TC Energy (TSE:TRP) Price Target Cut to C$51.00

TC Energy (TSE:TRP) (NYSE:TRP) had its target price cut by equities researchers at Jefferies Financial Group from C$57.00 to C$51.00 in a note issued to investors on Wednesday, BayStreet.CA reports. Jefferies Financial Group’s price objective points to a potential upside of 5.07% from the stock’s current price.

TRP has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price objective on TC Energy from C$58.00 to C$59.00 and gave the stock a “neutral” rating in a research report on Tuesday. ATB Capital set a C$54.00 price objective on TC Energy and gave the company a “sector perform” rating in a research note on Friday, January 5th. TD Securities raised their price objective on TC Energy from C$50.00 to C$51.00 and gave the company a “hold” rating in a research note on Wednesday, February 21st. Royal Bank of Canada dropped their target price on shares of TC Energy from C$54.00 to C$49.00 and set an “outperform” rating for the company in a report on Tuesday, February 20th. Finally, Barclays increased their target price on shares of TC Energy from C$53.00 to C$55.00 in a report on Monday, January 29th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$54.94.

TC Energy Price Performance

TC Energy stock opened at C$48.54 on Wednesday. TC Energy has a 12 month low of C$43.70 and a 12 month high of C$56.98. The company has a current ratio of 0.96, a quick ratio of 0.40 and a debt-to-equity ratio of 163.32. The business’s 50 day simple moving average is C$53.03 and its 200 day simple moving average is C$51.41. The company has a market cap of C$50.48 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 0.26 and a beta of 0.73.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results on Friday, February 16th. The company reported C$1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.08 by C$0.27. The firm had revenue of C$4.24 billion for the quarter, compared to the consensus estimate of C$3.94 billion. TC Energy had a return on equity of 8.39% and a net margin of 18.34%. Sell-side analysts forecast that TC Energy will post 4.1789916 EPS for the current year.

Insider Activity

In other news, Senior Officer Dawn Elizabeth De Lima purchased 2,600 shares of TC Energy stock in a transaction that occurred on Monday, March 25th. The stock was bought at an average price of C$55.04 per share, with a total value of C$143,104.00. In related news, Senior Officer Dawn Elizabeth De Lima bought 2,600 shares of the business’s stock in a transaction on Monday, March 25th. The stock was acquired at an average price of C$55.04 per share, with a total value of C$143,104.00. Also, Director Alexis A.J. Hudy bought 875 shares of the business’s stock in a transaction on Monday, March 25th. The stock was bought at an average cost of C$54.97 per share, with a total value of C$48,098.75. Following the transaction, the director now owns 875 shares in the company, valued at approximately C$48,098.75. Over the last ninety days, insiders acquired 4,526 shares of company stock worth $248,609. Insiders own 0.04% of the company’s stock.

About TC Energy

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 Energy Solutions. The company builds and operates a network of 93,600 kilometers 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.