TD Securities Cuts TC Energy (TSE:TRP) Price Target to C$80.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target decreased by TD Securities from C$81.00 to C$80.00 in a research report released on Friday,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

A number of other brokerages have also recently commented on TRP. Citigroup set a C$75.00 target price on TC Energy and gave the stock a “neutral” rating in a report on Friday, September 5th. US Capital Advisors downgraded TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Jefferies Financial Group lifted their price objective on TC Energy from C$70.00 to C$73.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. National Bankshares increased their target price on shares of TC Energy from C$75.00 to C$76.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Finally, Barclays raised their target price on shares of TC Energy from C$75.00 to C$80.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$77.64.

TC Energy Stock Up 2.8%

Shares of TRP stock opened at C$73.26 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.40 and a debt-to-equity ratio of 237.62. TC Energy has a 12 month low of C$62.17 and a 12 month high of C$77.26. The stock has a market cap of C$76.26 billion, a P/E ratio of 17.96, a P/E/G ratio of 1.69 and a beta of 0.83. The company has a 50 day simple moving average of C$72.69 and a two-hundred day simple moving average of C$69.57.

Insider Buying and Selling

In other news, Director Francois Lionel Poirier sold 53,946 shares of the business’s stock in a transaction on Friday, August 15th. The shares were 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 company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of C$70.07, for a total transaction of C$2,802,640.00. Following the transaction, the director owned 12,000 shares of the company’s stock, valued at approximately C$840,792. This represents a 76.92% decrease in their position. 0.03% of the stock is currently owned by insiders.

About TC Energy

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.