Jefferies Financial Group Increases TC Energy (TSE:TRP) Price Target to C$74.00

TC Energy (TSE:TRP) (NYSE:TRP) had its target price lifted by investment analysts at Jefferies Financial Group from C$73.00 to C$74.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Jefferies Financial Group’s price target would suggest a potential downside of 3.55% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. National Bankshares upped their price objective on TC Energy from C$75.00 to C$76.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Scotiabank boosted their target price on shares of TC Energy from C$77.00 to C$80.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. TD Securities cut their price target on shares of TC Energy from C$81.00 to C$80.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Raymond James Financial lifted their price objective on shares of TC Energy from C$70.00 to C$72.00 in a research report on Monday. Finally, CIBC upgraded shares of TC Energy from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from C$77.00 to C$78.00 in a research note on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$78.08.

TC Energy Stock Performance

TRP opened at C$76.72 on Tuesday. The business’s 50-day simple moving average is C$72.92 and its 200 day simple moving average is C$69.70. TC Energy has a 52-week low of C$62.17 and a 52-week high of C$77.26. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. The firm has a market capitalization of C$79.87 billion, a PE ratio of 23.46, a PEG ratio of 1.69 and a beta of 0.83.

Insider Buying and Selling

In other TC Energy news, Director Francois Lionel Poirier sold 53,946 shares of the company’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of C$70.49, for a total value of C$3,802,669.72. Following the transaction, the director directly owned 113,550 shares of the company’s stock, valued at C$8,004,173.57. This represents a 32.21% decrease in their position. 0.03% of the stock is currently owned by corporate 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.