National Bankshares Lowers TC Energy (TSE:TRP) Price Target to C$56.00
TC Energy (TSE:TRP – Get Rating) (NYSE:TRP) had its target price decreased by equities researchers at National Bankshares from C$58.00 to C$56.00 in a note issued to investors on Friday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. National Bankshares’ price objective suggests a potential downside of 2.52% from the company’s previous close.
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Several other research analysts also recently commented on TRP. Royal Bank of Canada cut their price target on shares of TC Energy from C$75.00 to C$73.00 and set an “outperform” rating for the company in a report on Wednesday, November 30th. JPMorgan Chase & Co. decreased their target price on shares of TC Energy from C$67.00 to C$64.00 in a research report on Tuesday, December 6th. Credit Suisse Group cut their price target on shares of TC Energy to C$63.00 in a report on Tuesday, October 25th. Raymond James raised shares of TC Energy from a “market perform” rating to an “outperform” rating and set a C$63.00 price objective on the stock in a research note on Friday, January 6th. Finally, BMO Capital Markets decreased their target price on shares of TC Energy from C$68.00 to C$66.00 in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$64.37.
TC Energy Stock Performance
Shares of TC Energy stock traded down C$0.10 on Friday, reaching C$57.45. 855,839 shares of the company traded hands, compared to its average volume of 5,226,195. TC Energy has a 52 week low of C$52.12 and a 52 week high of C$74.44. The company has a 50 day moving average of C$57.57 and a 200 day moving average of C$60.86. The firm has a market capitalization of C$57.45 billion and a PE ratio of 17.68. The company has a debt-to-equity ratio of 164.17, a current ratio of 0.53 and a quick ratio of 0.40.
TC Energy (TSE:TRP – Get Rating) (NYSE:TRP) last released its earnings results on Wednesday, November 9th. The company reported C$1.07 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.03 by C$0.04. The company had revenue of C$3.80 billion for the quarter. Equities analysts forecast that TC Energy will post 4.28 earnings per share for the current year.
Insider Transactions at TC Energy
In related news, Director Robert C. Jacobucci bought 2,800 shares of TC Energy stock in a transaction dated Thursday, December 29th. The shares were acquired at an average cost of C$53.69 per share, with a total value of C$150,332.00. Following the completion of the transaction, the director now owns 6,085 shares in the company, valued at approximately C$326,703.65. In other news, Director Robert C. Jacobucci acquired 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, December 29th. The stock was purchased at an average cost of C$53.69 per share, for a total transaction of C$150,332.00. Following the completion of the acquisition, the director now directly owns 6,085 shares of the company’s stock, valued at approximately C$326,703.65. Also, Director Mark Yeomans sold 430 shares of the company’s stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of C$58.43, for a total transaction of C$25,124.90. Following the completion of the sale, the director now directly owns 407 shares of the company’s stock, valued at C$23,781.01.
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 Storage. The company builds and operates 93,300 km network 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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