The research analysts at Barclays lowered their price target for TC Energy (TSE: TRP) (NYSE: TRP) in a note delivered to investors on Friday, as reported by BayStreet.CA.
The note was delivered to investors.
The previous price objective of CAD 55.00 has been revised to CAD 51.00.
Based on the price target that Barclays has established, it appears that there is a possibility that the current price of the stock will go down by 8.62%.
TRP has been the subject of several additional studies.
BMO Capital Markets lowered their price objective on TC Energy shares, bringing it down from C$66.00 to C$64.00, and the announcement was made in a research note released on Thursday. Royal Bank of Canada lowered its price objective for TC Energy shares in a research note published on Thursday.
The new price objective is $65.00, which decreases from the previous price objective of $73.00.
In a report made public on Thursday, CIBC decreased its target price for TC Energy’s shares from C$63.00 (Canadian) to C$62.00 (Canadian).
Additionally, the financial institution changed its rating for it from “neutral” to “outperform” at the same time.
The Credit Suisse Group recommended in a study made public on Tuesday, October 25, that the target price for TC Energy shares is lowered to $63.00.
Lastly, in a report released on Thursday, CSFB announced that they would be lowering their target price for shares of TC Energy from C$63.00 (Canadian) to C$60.50 (Canadian).
A buy rating of five, a hold rating of nine, and a sell rating of three have been assigned to the stock by various financial analysts as their recommendations regarding the stock.
The rating for the company has been changed to “Hold,” and the consensus price target for the stock is currently set at C$63.03.
This information was obtained from Bloomberg.com.
On Friday at noon, a trading session took place, and during that session, the price of TRP stock increased by $0.20, taking it to a total of 55.81 Canadian dollars. Compared to the daily average volume of 5,407,111 shares priced at 55.81 Canadian dollars, only 1,802,783 were traded today. Compared to the typical volume of 5,407,111 shares, only 1,802,783 of the company’s shares were traded during the event.
The debt-to-equity ratio comes in at 164.17, the quick ratio comes in at 0.40, and the current ratio comes in at 0.53.
The company has an impressive financial standing with a market value of $55.81 billion Canadian dollars and a price-to-earnings ratio of 17.13. On the simple moving average for the past fifty days, the price of the company is $56.74, and on the simple moving average for the past two hundred days, it is $60.51.
The price of TC Energy hit a low of 52.12 Canadian dollars over the past year, while it reached a high of 74.44 Canadian dollars over the same period.
The most recent report on TC Energy’s performance was made public on November 9, and it is searchable on both the Toronto Stock Exchange (TSE) and the New York Stock Exchange (NYSE) under the ticker symbol TRP.
The company’s reported profits per share came in at C$1.07, which is $0.04 more than the consensus estimate of C$1.03 for the quarter. Several analysts made the estimate.
The company reported total revenue of 3.80 billion Canadian dollars for the period in question.
TC Energy is expected to generate earnings of $4.28 per share for the current fiscal year, according to the forecasts of equity research analysts.
In related news, TC Energy director Robert C. Jacobucci purchased 2,800 shares of the company’s stock on December 29.
This is just one of the recent developments involving TC Energy.
The shares were acquired for a total of 150,332.00 Canadian dollars, which works out to a price of 53.69 Canadian dollars per share on average.
As a direct result of the purchase, the director now directly owns 6,085 shares of the company, and the total value of these shares is approximately $326,703.65. On Friday, December 2, director of TC Energy Mark Yeomans sold 430 shares of the company’s stock, which brings us to another development about this topic.
The shares were sold on the open market for a total of $25,124.90 in Canadian dollars, which works out to a price of $58.43 per share when divided by the number of shares sold. Following the completion of the transaction, the director is now the direct owner of 407 company shares, the total value of which is approximately 23,781.01 dollars.
In addition, Director Robert C. Jacobucci purchased 2,800 shares of the company’s stock on December 29.
The number of shares was acquired for a total cost of C$150,332, which works out to a price of C$53.69 per share on average.
Because of the transaction, the director now owns 6,085 company shares, which have a combined value of $326,703.65 in the current market.
The TC Energy Corporation is an organization that focuses on developing energy infrastructure in North America.
This industry can be broken down into five subcategories:
Pipelines for liquids
Pipelines for power and storage
Pipelines for natural gas in the United States
Pipelines for natural gas in Mexico
Pipelines for natural gas in Canada
All of these subcategories are located in North America.
The company constructs and operates a natural gas pipeline to transport natural gas from supply basins to end users such as local distribution companies, power plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other types of businesses network that spans 93,300 kilometers.