TC Energy (TSE:TRP) Lifted to Overweight at Morgan Joseph

TC Energy (TSE:TRP) (NYSE:TRP) was upgraded by equities research analysts at Morgan Joseph from an “underweight” rating to an “overweight” rating in a report issued on Friday, BayStreet.CA reports. The firm presently has a C$78.00 target price on the stock, up from their previous target price of C$62.00. Morgan Joseph’s target price would suggest a potential upside of 18.97% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. ATB Capital decreased their price target on shares of TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 3rd. BMO Capital Markets cut their price target on shares of TC Energy from C$65.00 to C$55.00 and set a “market perform” rating for the company in a research note on Wednesday, October 2nd. Jefferies Financial Group increased their target price on TC Energy from C$57.00 to C$66.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Barclays upped their price target on TC Energy from C$66.00 to C$67.00 in a research report on Monday. Finally, Royal Bank of Canada boosted their target price on shares of TC Energy from C$66.00 to C$67.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$61.92.

TC Energy Stock Performance

TRP stock traded up C$0.48 on Friday, reaching C$65.56. 630,768 shares of the company were exchanged, compared to its average volume of 7,205,819. The firm has a market capitalization of C$68.18 billion, a PE ratio of 19.79, a PEG ratio of 1.69 and a beta of 0.82. TC Energy has a 12 month low of C$42.45 and a 12 month high of C$66.70. The stock’s fifty day moving average price is C$62.62 and its 200 day moving average price is C$56.49. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, beating analysts’ consensus estimates of C$0.89 by C$0.05. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The business had revenue of C$4.09 billion during the quarter, compared to analyst estimates of C$3.78 billion. On average, research analysts anticipate that TC Energy will post 3.5490515 EPS for the current fiscal year.

Insider Activity

In other TC Energy news, Director Richard Prior sold 3,000 shares of TC Energy stock in a transaction on Friday, August 16th. The shares were sold at an average price of C$44.00, for a total transaction of C$132,000.00. In other TC Energy news, Director Richard Prior sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of C$44.00, for a total transaction of C$132,000.00. Also, Senior Officer Christine R. Johnston sold 16,292 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of C$59.71, for a total value of C$972,795.32. Following the completion of the sale, the insider now directly owns 466 shares of the company’s stock, valued at approximately C$27,824.86. This trade represents a 0.00 % decrease in their ownership of the stock. In the last quarter, insiders have sold 95,479 shares of company stock valued at $5,860,018. 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.