Jefferies Financial Group Forecasts Strong Price Appreciation for TC Energy (TSE:TRP) Stock

TC Energy (TSE:TRP) (NYSE:TRP) had its price target lifted by investment analysts at Jefferies Financial Group from C$65.00 to C$71.00 in a report issued on Thursday,BayStreet.CA reports. Jefferies Financial Group’s price objective suggests a potential upside of 8.10% from the stock’s current price.

TRP has been the subject of a number of other research reports. Scotiabank increased their price target on shares of TC Energy from C$74.00 to C$75.00 in a research note on Wednesday, November 20th. Raymond James upgraded TC Energy to a “hold” rating in a research note on Thursday, November 21st. TD Securities set a C$73.00 target price on TC Energy and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Morgan Joseph raised TC Energy from an “underweight” rating to an “overweight” rating and raised their price target for the company from C$62.00 to C$78.00 in a report on Friday, October 25th. Finally, CIBC upped their price objective on shares of TC Energy from C$68.00 to C$70.00 and gave the company a “neutral” rating in a report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TC Energy currently has an average rating of “Moderate Buy” and an average target price of C$73.00.

TC Energy Stock Up 0.3 %

Shares of TSE TRP traded up C$0.21 during mid-day trading on Thursday, hitting C$65.68. The company had a trading volume of 480,198 shares, compared to its average volume of 4,861,141. TC Energy has a one year low of C$43.83 and a one year high of C$70.32. The company has a market capitalization of C$68.31 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. The firm has a 50-day simple moving average of C$67.39 and a two-hundred day simple moving average of C$63.72.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.06. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The firm had revenue of C$4.08 billion during the quarter, compared to the consensus estimate of C$3.90 billion. On average, equities analysts expect that TC Energy will post 3.5490515 EPS for the current year.

Insiders Place Their Bets

In other news, Director Trevor Ebl sold 9,554 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of C$68.48, for a total value of C$654,219.70. Also, Director Alexander (Alex) Oehler acquired 6,540 shares of TC Energy stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average price of C$66.05 per share, for a total transaction of C$431,947.64. Insiders sold 420,911 shares of company stock worth $28,259,105 over the last three months. Insiders own 0.03% of the company’s stock.

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.