TC Energy (TSE:TRP) Given a C$77.00 Price Target at CSFB

CSFB set a C$77.00 price target on TC Energy (TSE:TRP) (NYSE:TRP) in a report issued on Thursday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also issued reports on TRP. National Bankshares lowered their price target on TC Energy from C$67.00 to C$66.00 and set an outperform rating for the company in a report on Tuesday, August 3rd. UBS Group reiterated a buy rating and issued a C$66.00 price target on shares of TC Energy in a report on Tuesday, August 3rd. CIBC reissued a buy rating and issued a C$74.00 price objective on shares of TC Energy in a research note on Tuesday, September 21st. Morgan Stanley downgraded shares of TC Energy from an overweight rating to an equal weight rating in a research note on Tuesday, July 20th. Finally, BMO Capital Markets reissued an outperform rating on shares of TC Energy in a research note on Tuesday, September 21st. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of C$68.50.

Shares of TSE:TRP opened at C$62.88 on Thursday. TC Energy has a 1 year low of C$50.61 and a 1 year high of C$65.44. The business has a 50 day simple moving average of C$60.82 and a two-hundred day simple moving average of C$60.87. The firm has a market capitalization of C$61.56 billion and a PE ratio of 30.69. The company has a debt-to-equity ratio of 162.89, a current ratio of 0.61 and a quick ratio of 0.45.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its earnings results on Thursday, July 29th. The company reported C$1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.96 by C$0.11. The business had revenue of C$3.18 billion for the quarter. Equities research analysts expect that TC Energy will post 4.344974 EPS for the current fiscal year.

In other TC Energy news, Senior Officer Patrick M. Keys sold 8,344 shares of the company’s stock in a transaction on Monday, September 13th. The shares were sold at an average price of C$62.75, for a total value of C$523,604.36. Following the sale, the insider now directly owns 18,108 shares of the company’s stock, valued at C$1,136,316.84. Also, Director James Eckert purchased 1,643 shares of the stock in a transaction on Tuesday, August 3rd. The stock was acquired at an average cost of C$64.24 per share, for a total transaction of C$105,542.71. Following the completion of the acquisition, the director now owns 4,874 shares of the company’s stock, valued at approximately C$313,095.04. Over the last ninety days, insiders have bought 2,284 shares of company stock worth $143,587 and have sold 11,465 shares worth $712,789.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Storage segments. The company builds and operates 93,400 km network 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.

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Analyst Recommendations for TC Energy (TSE:TRP)

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