Jefferies Financial Group Upgrades TC Energy (TSE:TRP) to "Buy"

Key Points

• Jefferies upgraded TC Energy to “Buy” from “Hold” and raised its price target to C$102 from C$100, implying approximately 17% upside from the previous close.
• Analyst sentiment is broadly positive: TC Energy has eight Buy ratings and seven Holds, with a consensus rating of “Moderate Buy” and an average price target of C$95.64.
• TC Energy reported quarterly EPS of C$0.94 on revenue of C$3.96 billion. Shares recently traded at C$87.20, while the company carries high leverage with a debt-to-equity ratio of 229.63.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP was upgraded by analysts at Jefferies Financial Group from a "hold" rating to a "buy" rating in a research report issued on Tuesday, BayStreet reports. The firm currently has a C$102.00 price target on the stock, up from their prior price target of C$100.00. Jefferies Financial Group's price target suggests a potential upside of 16.97% from the stock's previous close.

Other research analysts have also issued reports about the company. National Bank Financial upped their price objective on TC Energy from C$102.00 to C$103.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Royal Bank Of Canada lifted their target price on TC Energy from C$104.00 to C$106.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Thursday, August 20th. TD upped their price target on shares of TC Energy from C$100.00 to C$102.00 and gave the company a "hold" rating in a research note on Friday, July 31st. Finally, BMO Capital Markets lifted their price objective on shares of TC Energy from C$94.00 to C$99.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, TC Energy presently has an average rating of "Moderate Buy" and an average target price of C$95.64.

TC Energy Stock Performance

TC Energy stock traded up C$0.42 during trading hours on Tuesday, hitting C$87.20. The company had a trading volume of 906,344 shares, compared to its average volume of 4,706,117. The firm has a 50-day moving average of C$93.05 and a 200 day moving average of C$90.71. The company has a debt-to-equity ratio of 229.63, a current ratio of 0.61 and a quick ratio of 0.40. The firm has a market cap of C$90.84 billion, a PE ratio of 26.11, a PEG ratio of 1.69 and a beta of 0.72. TC Energy has a one year low of C$69.41 and a one year high of C$100.18.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last posted its earnings results on Thursday, July 30th. The company reported C$0.94 EPS for the quarter. The company had revenue of C$3.96 billion for the quarter. TC Energy had a return on equity of 13.07% and a net margin of 22.46%. On average, sell-side analysts expect that TC Energy will post 3.5490515 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Yvonne Frame-Zawalykut sold 1,500 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of C$98.39, for a total transaction of C$147,585.00. 0.03% of the stock is owned by corporate insiders.

TC Energy Company Profile

We are a leader in North American energy infrastructure, spanning Canada, the U.S. and Mexico. For over 75 years, we have proudly connected the world to the energy it needs. Every day, we move more than 30 per cent of the natural gas used across the continent and connect LNG exports to global markets-powering communities and industries. Complemented by strategic ownership and low-risk investments in power generation, our infrastructure delivers affordable, reliable and sustainable energy across North America.

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