Scotiabank Boosts TC Energy (TSE:TRP) Price Target to C$77.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target raised by Scotiabank from C$75.00 to C$77.00 in a report issued on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 9.47% from the company’s previous close.

Several other research firms have also recently commented on TRP. Jefferies Financial Group raised their target price on TC Energy from C$65.00 to C$71.00 in a research note on Thursday, January 30th. Citigroup raised shares of TC Energy to a “hold” rating in a research report on Friday, April 4th. Royal Bank of Canada boosted their target price on shares of TC Energy from C$71.00 to C$74.00 in a research report on Tuesday, February 18th. CIBC increased their target price on shares of TC Energy from C$70.00 to C$71.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. Finally, US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$74.17.

TC Energy Stock Performance

Shares of TRP opened at C$70.34 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.40 and a debt-to-equity ratio of 237.62. The firm’s fifty day simple moving average is C$67.37 and its two-hundred day simple moving average is C$67.00. TC Energy has a 12 month low of C$46.07 and a 12 month high of C$70.97. The stock has a market capitalization of C$72.54 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

Insider Activity at TC Energy

In other news, Senior Officer Patrick C. Muttart sold 18,629 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of C$70.10, for a total value of C$1,305,885.45. Also, Director Trevor Ebl purchased 1,470 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average cost of C$67.85 per share, with a total value of C$99,732.15. In the last three months, insiders purchased 13,287 shares of company stock valued at $842,568 and sold 145,977 shares valued at $9,810,511. 0.03% of the stock is currently owned by insiders.

TC Energy Company Profile

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.