TC Energy (TSE:TRP) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective increased by stock analysts at Wells Fargo & Company from C$74.00 to C$76.00 in a research report issued on Wednesday,BayStreet.CA reports. Wells Fargo & Company‘s price target indicates a potential upside of 8.35% from the stock’s previous close.

A number of other brokerages have also recently commented on TRP. UBS Group raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. BMO Capital Markets boosted their target price on TC Energy from C$55.00 to C$66.00 in a research note on Friday, November 8th. Barclays boosted their target price on TC Energy from C$66.00 to C$67.00 in a research note on Monday, October 21st. CIBC boosted their target price on TC Energy from C$66.00 to C$67.00 in a research note on Friday, November 8th. Finally, ATB Capital boosted their target price on TC Energy from C$64.00 to C$65.00 in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$69.54.

TC Energy Price Performance

TRP opened at C$70.14 on Wednesday. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. The stock’s 50 day simple moving average is C$64.86 and its 200 day simple moving average is C$58.90. The firm has a market cap of C$72.95 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 1.69 and a beta of 0.82. TC Energy has a 1 year low of C$43.83 and a 1 year high of C$70.24.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, topping analysts’ consensus estimates of C$0.97 by C$0.06. The business had revenue of C$4.08 billion for the quarter, compared to analysts’ expectations of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. As a group, analysts predict that TC Energy will post 3.5490515 earnings per share for the current year.

Insiders Place Their Bets

In other TC Energy news, Senior Officer Francois Lionel Poirier sold 118,243 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of C$68.38, for a total value of C$8,085,219.85. Also, Director Mark Yeomans sold 6,500 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of C$61.58, for a total value of C$400,297.95. Over the last three months, insiders have sold 214,476 shares of company stock valued at $14,299,929. 0.03% of the stock is currently owned by corporate insiders.

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.