TC Energy (TSE:TRP) Price Target Raised to C$105.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target boosted by equities research analysts at Scotiabank from C$97.00 to C$105.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 9.17% from the company’s current price.

A number of other research firms have also recently issued reports on TRP. Morgan Stanley cut shares of TC Energy from an “overweight” rating to an “equal weight” rating and set a C$103.00 price target for the company. in a report on Wednesday, June 10th. Citigroup lifted their price target on TC Energy from C$86.00 to C$95.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 31st. Canadian Imperial Bank of Commerce upped their price target on TC Energy from C$89.00 to C$94.00 in a report on Monday, May 4th. National Bank Financial raised their price objective on shares of TC Energy from C$92.00 to C$102.00 in a research note on Monday, June 1st. Finally, Raymond James Financial boosted their target price on shares of TC Energy from C$74.00 to C$78.00 in a research report on Monday, March 30th. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$91.64.

TC Energy Stock Performance

TRP traded down C$0.17 on Tuesday, hitting C$96.18. The company had a trading volume of 364,526 shares, compared to its average volume of 5,097,044. The company’s fifty day moving average price is C$95.76 and its 200 day moving average price is C$87.91. The company has a debt-to-equity ratio of 224.52, a current ratio of 0.65 and a quick ratio of 0.40. TC Energy has a 1-year low of C$64.04 and a 1-year high of C$100.18. The stock has a market cap of C$100.20 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 1.69 and a beta of 0.69.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data on Friday, May 1st. The company reported C$0.99 earnings per share (EPS) for the quarter. The business had revenue of C$3.86 billion during the quarter. TC Energy had a net margin of 21.83% and a return on equity of 12.53%. Equities analysts predict that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Trevor Ebl sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of C$93.45, for a total transaction of C$467,250.00. Also, insider Yvonne Frame-Zawalykut sold 1,500 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of C$98.39, for a total value of C$147,585.00. Insiders own 0.03% of the company’s stock.

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. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.