TC Energy (TSE:TRP) PT Lowered to C$65.00 at Raymond James

TC Energy (TSE:TRPGet Rating) (NYSE:TRP) had its target price reduced by equities researchers at Raymond James from C$67.00 to C$65.00 in a research report issued on Friday, BayStreet.CA reports. Raymond James’ price objective would indicate a potential upside of 1.53% from the company’s current price. Raymond James also issued estimates for TC Energy’s FY2022 earnings at $4.28 EPS and FY2023 earnings at $4.32 EPS.

A number of other research firms have also commented on TRP. BMO Capital Markets dropped their price objective on TC Energy from C$72.00 to C$70.00 in a research note on Tuesday, September 20th. National Bankshares boosted their price target on TC Energy from C$56.00 to C$58.00 in a research note on Thursday. CSFB lowered their price target on TC Energy from C$70.00 to C$63.00 in a research note on Tuesday, October 25th. Scotiabank lowered their price target on TC Energy from C$76.00 to C$67.00 in a research note on Thursday, October 20th. Finally, UBS Group lowered their price target on TC Energy from C$66.00 to C$64.00 in a research note on Tuesday, August 16th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$67.42.

TC Energy Trading Up 1.4 %

TC Energy stock opened at C$64.02 on Friday. The company has a debt-to-equity ratio of 174.30, a quick ratio of 0.42 and a current ratio of 0.64. The business’s 50-day simple moving average is C$59.76 and its 200-day simple moving average is C$65.43. The firm has a market capitalization of C$64.79 billion and a PE ratio of 19.94. TC Energy has a 52 week low of C$54.60 and a 52 week high of C$74.44.

Insider Buying and Selling

In related news, Director Richard Prior acquired 1,100 shares of the company’s stock in a transaction that occurred on Friday, September 23rd. The stock was purchased at an average price of C$56.14 per share, for a total transaction of C$61,751.19. Following the transaction, the director now directly owns 13,575 shares of the company’s stock, valued at approximately C$762,065.83. In related news, Director Mark Yeomans sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of C$58.04, for a total value of C$69,648.00. Following the completion of the transaction, the director now owns 837 shares in the company, valued at approximately C$48,579.48. Also, Director Richard Prior acquired 1,100 shares of the company’s stock in a transaction that occurred on Friday, September 23rd. The stock was bought at an average price of C$56.14 per share, with a total value of C$61,751.19. Following the transaction, the director now directly owns 13,575 shares in the company, valued at C$762,065.83. Insiders purchased 1,835 shares of company stock worth $108,161 in the last quarter.

TC Energy Company Profile

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TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Storage. The company builds and operates 93,300 km network of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.

Further Reading

Analyst Recommendations for TC Energy (TSE:TRP)

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