TC Energy (TSE:TRP) Price Target Cut to C$51.00 by Analysts at Jefferies Financial Group

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP had its price target reduced by Jefferies Financial Group from C$57.00 to C$51.00 in a note issued to investors on Wednesday, BayStreet.CA reports. Jefferies Financial Group's target price indicates a potential upside of 5.57% from the company's current price.

Several other brokerages also recently weighed in on TRP. National Bankshares increased their price target on shares of TC Energy from C$54.00 to C$58.00 and gave the stock an "outperform" rating in a report on Tuesday, January 30th. Scotiabank raised their price objective on shares of TC Energy from C$55.00 to C$58.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 20th. Barclays raised their price objective on shares of TC Energy from C$53.00 to C$55.00 in a research note on Monday, January 29th. ATB Capital set a C$54.00 price objective on shares of TC Energy and gave the stock a "sector perform" rating in a research note on Friday, January 5th. Finally, Royal Bank of Canada dropped their price objective on shares of TC Energy from C$54.00 to C$49.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 20th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, TC Energy has an average rating of "Hold" and a consensus target price of C$54.94.

TC Energy Stock Performance

TSE:TRP traded down C$0.29 during midday trading on Wednesday, hitting C$48.31. The company's stock had a trading volume of 6,937,026 shares, compared to its average volume of 6,683,118. TC Energy has a fifty-two week low of C$43.70 and a fifty-two week high of C$56.98. The firm's 50 day moving average is C$53.06 and its 200-day moving average is C$51.43. The company has a debt-to-equity ratio of 163.32, a current ratio of 0.96 and a quick ratio of 0.40. The firm has a market cap of C$50.24 billion, a P/E ratio of 17.57, a P/E/G ratio of 0.26 and a beta of 0.73.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last issued its quarterly earnings results on Friday, February 16th. The company reported C$1.35 earnings per share for the quarter, topping the consensus estimate of C$1.08 by C$0.27. TC Energy had a net margin of 18.34% and a return on equity of 8.39%. The company had revenue of C$4.24 billion for the quarter, compared to the consensus estimate of C$3.94 billion. Equities analysts anticipate that TC Energy will post 4.1789916 earnings per share for the current fiscal year.

Insider Activity

In other TC Energy news, Director Kevin B. Engel sold 2,514 shares of the firm's stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$54.33, for a total value of C$136,593.16. Following the transaction, the director now owns -29 shares in the company, valued at approximately C($1,575.66). In other news, Senior Officer Dawn Elizabeth De Lima acquired 2,600 shares of the firm's stock in a transaction on Monday, March 25th. The shares were bought at an average price of C$55.04 per share, for a total transaction of C$143,104.00. Also, Director Kevin B. Engel sold 2,514 shares of the firm's stock in a transaction on Friday, March 15th. The shares were sold at an average price of C$54.33, for a total value of C$136,593.16. Following the completion of the transaction, the director now owns -29 shares in the company, valued at approximately C($1,575.66). Insiders have acquired 4,526 shares of company stock worth $248,609 in the last quarter. Corporate insiders own 0.04% of the company's stock.

TC Energy Company Profile

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.