Scotiabank Lowers TC Energy (TSE:TRP) Price Target to C$61.00

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP had its price target decreased by analysts at Scotiabank from C$62.00 to C$61.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Scotiabank's price target would indicate a potential downside of 5.37% from the stock's current price.

Several other brokerages have also weighed in on TRP. CIBC upped their price objective on TC Energy from C$56.00 to C$59.00 in a report on Monday, July 15th. Jefferies Financial Group upped their target price on TC Energy from C$52.00 to C$57.00 and gave the company a "hold" rating in a report on Monday, July 29th. ATB Capital upped their target price on TC Energy from C$56.00 to C$60.00 and gave the company a "sector perform" rating in a report on Tuesday, September 10th. National Bankshares upped their target price on TC Energy from C$60.00 to C$65.00 and gave the company an "outperform" rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company upped their target price on TC Energy from C$59.00 to C$64.00 in a report on Tuesday, June 4th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, TC Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of C$58.62.

TC Energy Price Performance

Shares of TC Energy stock traded up C$1.27 during trading on Wednesday, hitting C$64.46. The stock had a trading volume of 5,598,614 shares, compared to its average volume of 6,388,095. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. The firm has a market cap of C$67.04 billion, a P/E ratio of 19.46, a PEG ratio of 0.26 and a beta of 0.82. The business has a fifty day moving average of C$60.50 and a two-hundred day moving average of C$55.25. TC Energy has a fifty-two week low of C$44.70 and a fifty-two week high of C$64.54.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, beating the consensus estimate of C$0.89 by C$0.05. The business had revenue of C$4.09 billion during the quarter, compared to analyst estimates of C$3.78 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. On average, sell-side analysts expect that TC Energy will post 4.5431472 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of the company's stock in a transaction on Tuesday, September 24th. The shares were bought at an average cost of C$63.06 per share, with a total value of C$34,367.70. In other TC Energy news, Director Colin Lindley sold 2,773 shares of the company's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total value of C$164,761.40. Following the transaction, the director now directly owns 697 shares of the company's stock, valued at approximately C$41,413.16. Also, Senior Officer Dawn Elizabeth De Lima bought 545 shares of the company's stock in a transaction on Tuesday, September 24th. The stock was purchased at an average cost of C$63.06 per share, for a total transaction of C$34,367.70. In the last ninety days, insiders sold 95,479 shares of company stock valued at $5,860,018. Corporate 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.