TC Energy (TSE:TRP) Upgraded to “Buy” at Jefferies Financial Group

TC Energy (TSE:TRP) (NYSE:TRP) was upgraded by Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, BayStreet reports. The firm presently has a C$102.00 price objective on the stock, up from their previous price objective of C$100.00. Jefferies Financial Group’s price objective suggests a potential upside of 16.97% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. National Bank Financial boosted their price target on TC Energy from C$102.00 to C$103.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Barclays boosted their target price on TC Energy from C$100.00 to C$102.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. TD raised their price target on shares of TC Energy from C$100.00 to C$102.00 and gave the company a “hold” rating in a research note on Friday, July 31st. Scotiabank raised their price target on shares of TC Energy from C$97.00 to C$105.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 21st. Finally, ATB Cormark Capital Markets lifted their price target on shares of TC Energy from C$98.00 to C$100.00 and gave the company a “sector perform” rating in a report on Friday, July 31st. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$95.64.

TC Energy Price Performance

TSE:TRP traded up C$0.42 during mid-day trading on Tuesday, reaching C$87.20. The stock had a trading volume of 906,344 shares, compared to its average volume of 4,706,117. The stock has a 50-day simple moving average of C$93.05 and a two-hundred day simple moving average of C$90.71. The stock has a market capitalization of C$90.84 billion, a PE ratio of 26.11, a P/E/G ratio of 1.69 and a beta of 0.72. The company has a debt-to-equity ratio of 229.63, a current ratio of 0.61 and a quick ratio of 0.40. TC Energy has a 12 month low of C$69.41 and a 12 month high of C$100.18.

TC Energy (TSE:TRP) (NYSE:TRP) last released its earnings results on Thursday, July 30th. The company reported C$0.94 earnings per share for the quarter. The firm had revenue of C$3.96 billion during the quarter. TC Energy had a return on equity of 13.07% and a net margin of 22.46%. On average, equities analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current year.

Insiders Place Their Bets

In other TC Energy news, insider Yvonne Frame-Zawalykut sold 1,500 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$98.39, for a total value of C$147,585.00. 0.03% of the stock is owned by corporate insiders.

About TC Energy

We are a leader in North American energy infrastructure, spanning Canada, the U.S. and Mexico. For over 75 years, we have proudly connected the world to the energy it needs. Every day, we move more than 30 per cent of the natural gas used across the continent and connect LNG exports to global markets-powering communities and industries. Complemented by strategic ownership and low-risk investments in power generation, our infrastructure delivers affordable, reliable and sustainable energy across North America.