TC Energy (TSE:TRP) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays has increased its price target for TC Energy from C$74.00 to C$75.00, indicating a potential upside of 6.07% from the current stock price.
• Other brokerages like CIBC and Scotiabank have also raised their target prices, with CIBC setting a target of C$76.00 and Scotiabank targeting C$77.00, reflecting a positive outlook on the stock.
• TC Energy's stock trades at C$70.71 with an impressive market capitalization of C$72.92 billion, but insiders have recently sold over 20,000 shares, raising concerns about insider confidence.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP had its price objective boosted by investment analysts at Barclays from C$74.00 to C$75.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Barclays's target price would suggest a potential upside of 6.07% from the stock's current price.

A number of other brokerages have also recently weighed in on TRP. CIBC raised their target price on shares of TC Energy from C$71.00 to C$76.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. TD Securities raised their price objective on shares of TC Energy from C$74.00 to C$76.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Jefferies Financial Group decreased their price objective on shares of TC Energy from C$71.00 to C$68.00 in a research note on Wednesday, July 23rd. National Bankshares raised their price objective on shares of TC Energy from C$75.00 to C$76.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, Scotiabank raised their price objective on shares of TC Energy from C$75.00 to C$77.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$74.42.

TC Energy Stock Performance

Shares of TSE:TRP traded up C$0.47 during trading hours on Thursday, hitting C$70.71. The stock had a trading volume of 864,673 shares, compared to its average volume of 6,251,996. TC Energy has a 1-year low of C$54.37 and a 1-year high of C$71.12. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. The firm has a market capitalization of C$72.92 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 1.69 and a beta of 0.82. The stock's fifty day simple moving average is C$66.29 and its 200 day simple moving average is C$67.06.

Insiders Place Their Bets

In related news, Director Alexandra M. Costello sold 6,159 shares of the business's stock in a transaction that occurred on Monday, May 26th. The shares were sold at an average price of C$69.55, for a total transaction of C$428,378.77. Also, Director Russell Mahan sold 11,424 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of C$70.22, for a total transaction of C$802,193.28. Over the last three months, insiders sold 20,060 shares of company stock valued at $1,401,967. Insiders own 0.03% of the company's stock.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers 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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