TC Energy (TSE:TRP) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

TC Energy (TSE:TRP) (NYSE:TRP) had its target price increased by research analysts at Jefferies Financial Group from C$70.00 to C$73.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 3.37% from the company’s current price.

Several other brokerages have also weighed in on TRP. National Bankshares increased their target price on TC Energy from C$75.00 to C$76.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. CIBC cut TC Energy from an “outperform” rating to a “neutral” rating and increased their price target for the stock from C$76.00 to C$77.00 in a research note on Thursday, October 9th. Citigroup set a C$75.00 price target on TC Energy and gave the stock a “neutral” rating in a research note on Friday, September 5th. Barclays increased their price target on TC Energy from C$75.00 to C$80.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Finally, Cibc World Mkts cut TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$75.75.

TC Energy Price Performance

Shares of TSE TRP opened at C$70.62 on Wednesday. TC Energy has a 1-year low of C$62.17 and a 1-year high of C$77.26. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40. The business’s fifty day moving average price is C$72.66 and its two-hundred day moving average price is C$69.40. The firm has a market capitalization of C$73.42 billion, a PE ratio of 17.31, a P/E/G ratio of 1.69 and a beta of 0.84.

Insider Transactions at TC Energy

In other TC Energy news, Director Francois Lionel Poirier sold 53,946 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of C$70.49, for a total transaction of C$3,802,669.72. Following the completion of the sale, the director directly owned 113,550 shares in the company, valued at approximately C$8,004,173.57. This trade represents a 32.21% decrease in their position. Also, Director Siim A. Vanaselja sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of C$70.07, for a total value of C$2,802,640.00. Following the sale, the director owned 12,000 shares of the company’s stock, valued at C$840,792. The trade was a 76.92% decrease in their ownership of the stock. Company insiders own 0.03% of the company’s stock.

TC Energy Company Profile

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system.