TC Energy (TSE:TRP) Given New C$80.00 Price Target at Scotiabank

Key Points

• Analysts at Scotiabank have raised the price target for TC Energy from C$77.00 to C$80.00, suggesting a potential upside of 10.50% from the stock's previous close.
• Other notable changes include Barclays increasing their target to C$80.00, while US Capital Advisors downgraded the stock from a "moderate buy" to a "hold."
• Insider trading activity shows significant sales, with Director Francois Lionel Poirier offloading 53,946 shares, resulting in a 32.21% decrease in their position.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP had its price target lifted by analysts at Scotiabank from C$77.00 to C$80.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Scotiabank's price target would suggest a potential upside of 10.50% from the stock's previous close.

A number of other research analysts have also weighed in on TRP. Barclays upped their price objective on TC Energy from C$75.00 to C$80.00 and gave the stock an "overweight" rating in a report on Tuesday, October 14th. US Capital Advisors lowered TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Jefferies Financial Group cut their target price on TC Energy from C$71.00 to C$68.00 in a research note on Wednesday, July 23rd. Cibc World Mkts downgraded TC Energy from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 9th. Finally, National Bankshares lifted their target price on TC Energy from C$75.00 to C$76.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$75.54.

TC Energy Trading Up 0.4%

TC Energy stock traded up C$0.30 during midday trading on Monday, reaching C$72.40. 627,980 shares of the stock traded hands, compared to its average volume of 6,104,229. The company has a 50-day simple moving average of C$72.51 and a two-hundred day simple moving average of C$69.02. TC Energy has a 12-month low of C$62.17 and a 12-month high of C$77.26. The firm has a market cap of C$75.27 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 1.69 and a beta of 0.84. The company has a current ratio of 1.31, a quick ratio of 0.40 and a debt-to-equity ratio of 237.62.

Insider Buying and Selling

In other TC Energy news, Director Francois Lionel Poirier sold 53,946 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of C$70.49, for a total value of C$3,802,669.72. Following the transaction, the director directly owned 113,550 shares in the company, valued at approximately C$8,004,173.57. This trade represents a 32.21% decrease in their position. Also, Director Siim A. Vanaselja sold 40,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of C$70.07, for a total value of C$2,802,640.00. Following the completion of the transaction, the director directly owned 12,000 shares in the company, valued at approximately C$840,792. This trade represents a 76.92% decrease in their position. 0.03% of the stock is owned by corporate insiders.

TC Energy Company Profile

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system.

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