TD Securities Cuts TC Energy (TSE:TRP) Price Target to C$80.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target cut by TD Securities from C$81.00 to C$80.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective would indicate a potential upside of 9.20% from the stock’s current price.

Other research analysts have also issued reports about the stock. National Bankshares lifted their price objective on shares of TC Energy from C$75.00 to C$76.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. CIBC lowered TC Energy from an “outperform” rating to a “neutral” rating and raised their price target for the stock from C$76.00 to C$77.00 in a report on Thursday, October 9th. US Capital Advisors downgraded TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Cibc World Mkts cut TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Finally, Jefferies Financial Group boosted their target price on TC Energy from C$70.00 to C$73.00 and gave the company a “hold” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$76.58.

TC Energy Stock Performance

TSE TRP traded up C$1.99 on Friday, reaching C$73.26. The stock had a trading volume of 4,727,939 shares, compared to its average volume of 6,052,168. The business’s 50-day moving average price is C$72.65 and its 200 day moving average price is C$69.50. The stock has a market cap of C$76.16 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 1.69 and a beta of 0.83. TC Energy has a 12-month low of C$62.17 and a 12-month high of C$77.26. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31.

Insider Buying and Selling at TC Energy

In other news, Director Francois Lionel Poirier sold 53,946 shares of the company’s stock in a transaction on 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 transaction, the director directly owned 113,550 shares of the company’s stock, valued at C$8,004,173.57. This represents a 32.21% decrease in their ownership of the stock. Also, Director Siim A. Vanaselja sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of C$70.07, for a total transaction of C$2,802,640.00. Following the transaction, the director directly 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. 0.03% of the stock is owned by insiders.

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.