TD Securities Increases TC Energy (TSE:TRP) Price Target to C$81.00

Key Points

• TD Securities has increased TC Energy's price target from C$76.00 to C$81.00, indicating a potential upside of 12.34% from its current stock price.
• Consensus ratings for TC Energy include one Strong Buy, five Buy, and five Hold ratings, with an average target price of C$75.31.
• Insiders have recently sold shares, with Director Francois Lionel Poirier and Siim A. Vanaselja reducing their ownership significantly, indicating potential concerns about future performance.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP had its target price lifted by TD Securities from C$76.00 to C$81.00 in a note issued to investors on Friday,BayStreet.CA reports. TD Securities' target price suggests a potential upside of 12.34% from the stock's current price.

Several other brokerages also recently commented on TRP. Barclays increased their price target on TC Energy from C$75.00 to C$80.00 and gave the company an "overweight" rating in a report on Tuesday. Jefferies Financial Group cut their target price on shares of TC Energy from C$71.00 to C$68.00 in a research report on Wednesday, July 23rd. Cibc World Mkts lowered shares of TC Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 9th. CIBC lowered TC Energy from an "outperform" rating to a "neutral" rating and lifted their price objective for the stock from C$76.00 to C$77.00 in a research note on Thursday, October 9th. Finally, Citigroup set a C$75.00 target price on TC Energy and gave the company a "neutral" rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$75.31.

TC Energy Stock Performance

Shares of TRP stock traded down C$0.23 during trading on Friday, reaching C$72.10. The company had a trading volume of 3,585,923 shares, compared to its average volume of 6,132,016. The firm's 50 day simple moving average is C$72.43 and its two-hundred day simple moving average is C$69.00. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40. TC Energy has a one year low of C$62.17 and a one year high of C$77.26. The company has a market capitalization of C$74.96 billion, a PE ratio of 17.67, a PEG ratio of 1.69 and a beta of 0.84.

Insider Buying and Selling

In other TC Energy news, Director Francois Lionel Poirier sold 53,946 shares of the business's 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 owned 113,550 shares of the company's stock, valued at approximately C$8,004,173.57. The trade was a 32.21% decrease in their ownership of the stock. Also, Director Siim A. Vanaselja sold 40,000 shares of the firm's stock in a transaction dated 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 completion of 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. 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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