TC Energy (TSE:TRP) Price Target Raised to C$92.00 at Barclays

Key Points

• Barclays raised its price target on TC Energy from C$88.00 to C$92.00 (about a 2.2% implied upside), while several other banks also lifted targets; MarketBeat shows a consensus target of C$87.46 and an average rating of "Hold".
• Shares traded at C$90.00 mid-day (down 0.7%) with a market cap of C$93.76 billion and a P/E of 27.52; TC Energy reported last-quarter EPS of C$0.99 on C$3.86 billion of revenue.
• Insider Dawn Elizabeth De Lima sold 25,342 shares for roughly C$2.25 million, reducing her position by 57.82%, and insiders collectively own 0.03% of the company.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP had its target price boosted by Barclays from C$88.00 to C$92.00 in a report released on Monday,BayStreet.CA reports. Barclays's price objective would indicate a potential upside of 2.22% from the stock's current price.

A number of other analysts also recently weighed in on the stock. National Bank Financial increased their price target on shares of TC Energy from C$86.00 to C$92.00 and gave the company an "outperform" rating in a research report on Monday. Raymond James Financial increased their target price on TC Energy from C$74.00 to C$78.00 in a research note on Monday, March 30th. Canadian Imperial Bank of Commerce raised TC Energy from a "neutral" rating to a "sector outperform" rating and increased their target price for the stock from C$85.00 to C$89.00 in a research note on Thursday, April 23rd. TD increased their target price on TC Energy from C$88.00 to C$90.00 and gave the stock a "hold" rating in a research note on Monday. Finally, Jefferies Financial Group increased their target price on TC Energy from C$80.00 to C$88.00 in a research note on Tuesday, February 17th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of C$87.46.

TC Energy Trading Down 0.7%

Shares of TSE:TRP traded down C$0.63 during mid-day trading on Monday, reaching C$90.00. The stock had a trading volume of 1,053,579 shares, compared to its average volume of 5,771,738. The firm has a market cap of C$93.76 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.69 and a beta of 0.76. The firm has a 50 day simple moving average of C$86.66 and a two-hundred day simple moving average of C$79.81. The company has a current ratio of 0.65, a quick ratio of 0.40 and a debt-to-equity ratio of 224.52. TC Energy has a twelve month low of C$63.34 and a twelve month high of C$91.50.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last announced its quarterly earnings results on Friday, May 1st. The company reported C$0.99 earnings per share for the quarter. The business had revenue of C$3.86 billion for the quarter. TC Energy had a net margin of 21.83% and a return on equity of 12.53%. On average, research analysts predict that TC Energy will post 3.5490515 EPS for the current fiscal year.

Insider Transactions at TC Energy

In related news, insider Dawn Elizabeth De Lima sold 25,342 shares of the stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of C$88.73, for a total transaction of C$2,248,595.66. Following the completion of the sale, the insider directly owned 18,490 shares of the company's stock, valued at approximately C$1,640,617.70. This represents a 57.82% 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. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.

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