Royal Bank of Canada Raises TC Energy (TSE:TRP) Price Target to C$71.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective hoisted by equities researchers at Royal Bank of Canada from C$67.00 to C$71.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s price objective points to a potential upside of 4.69% from the stock’s previous close.

A number of other equities analysts have also recently commented on TRP. Morgan Joseph upgraded TC Energy from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from C$62.00 to C$78.00 in a report on Friday, October 25th. Jefferies Financial Group lifted their price objective on shares of TC Energy from C$57.00 to C$66.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Scotiabank increased their target price on shares of TC Energy from C$68.00 to C$74.00 in a research note on Friday. UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$66.15.

TC Energy Price Performance

TRP stock opened at C$67.82 on Friday. TC Energy has a 52 week low of C$43.83 and a 52 week high of C$69.61. The firm has a market capitalization of C$70.53 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The company has a fifty day simple moving average of C$63.74 and a two-hundred day simple moving average of C$57.67. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.06. The firm had revenue of C$4.08 billion during the quarter, compared to the consensus estimate of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. Analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

Insider Activity at TC Energy

In other news, Senior Officer Dawn Elizabeth De Lima purchased 555 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were acquired at an average price of C$62.82 per share, with a total value of C$34,865.66. In other TC Energy news, Senior Officer Dawn Elizabeth De Lima purchased 555 shares of the stock in a transaction dated Wednesday, September 18th. The stock was purchased at an average price of C$62.82 per share, with a total value of C$34,865.66. Also, Director Rosemary K. Stevens sold 1,200 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$59.88, for a total transaction of C$71,856.00. Following the transaction, the director now owns 987 shares in the company, valued at approximately C$59,101.56. This represents a 0.00 % decrease in their ownership of the stock. Over the last quarter, insiders sold 76,114 shares of company stock worth $4,704,641. Company insiders own 0.03% of the company’s stock.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.