TC Energy (TSE:TRP) Price Target Raised to C$80.00 at Barclays

Key Points

• Barclays has raised its price target for TC Energy (TSE:TRP) from C$75.00 to C$80.00, indicating a potential upside of 9.29% from its previous close, while maintaining an "overweight" rating.
• Several research firms have issued mixed ratings on TC Energy, with Jefferies reducing its target to C$68.00 and CIBC upgrading its rating but slightly increasing the target to C$77.00.
• Insider trading activity includes significant sales by directors, with one selling 40,000 shares, representing a 76.92% decrease in their position.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP had its price objective lifted by research analysts at Barclays from C$75.00 to C$80.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has an "overweight" rating on the stock. Barclays's price target suggests a potential upside of 9.29% from the stock's previous close.

A number of other research firms also recently issued reports on TRP. Jefferies Financial Group cut their price target on TC Energy from C$71.00 to C$68.00 in a research note on Wednesday, July 23rd. CIBC cut shares of TC Energy from an "outperform" rating to a "neutral" rating and lifted their target price for the stock from C$76.00 to C$77.00 in a research report on Thursday, October 9th. Cibc World Mkts cut shares of TC Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 9th. National Bankshares lifted their target price on shares of TC Energy from C$75.00 to C$76.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, US Capital Advisors cut shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$74.92.

TC Energy Stock Down 1.0%

TRP stock traded down C$0.73 during mid-day trading on Tuesday, reaching C$73.20. 1,270,589 shares of the company traded hands, compared to its average volume of 6,122,602. The stock has a market cap of C$76.10 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 1.69 and a beta of 0.84. The company has a quick ratio of 0.40, a current ratio of 1.31 and a debt-to-equity ratio of 237.62. TC Energy has a fifty-two week low of C$62.17 and a fifty-two week high of C$77.26. The firm's 50 day moving average price is C$72.15 and its 200 day moving average price is C$68.91.

Insiders Place Their Bets

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

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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