Scotiabank Forecasts Strong Price Appreciation for TC Energy (TSE:TRP) Stock

TC Energy (TSE:TRP) (NYSE:TRP) had its price target hoisted by stock analysts at Scotiabank from C$68.00 to C$74.00 in a report released on Friday,BayStreet.CA reports. Scotiabank’s price objective points to a potential upside of 9.11% from the stock’s previous close.

TRP has been the subject of several other research reports. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Veritas raised shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. ATB Capital cut their price objective on shares of TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 3rd. JPMorgan Chase & Co. decreased their target price on TC Energy from C$66.00 to C$60.00 and set a “neutral” rating for the company in a research report on Tuesday, October 8th. Finally, Barclays increased their price target on TC Energy from C$66.00 to C$67.00 in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$66.15.

TC Energy Stock Performance

Shares of TRP opened at C$67.82 on Friday. The firm’s fifty day simple moving average is C$63.74 and its two-hundred day simple moving average is C$57.67. TC Energy has a 12 month low of C$43.83 and a 12 month high of C$69.61. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. The stock 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.

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

Insider Activity

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was bought at an average price of C$63.06 per share, with a total value of C$34,367.70. In related news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was acquired at an average cost of C$63.06 per share, for a total transaction of C$34,367.70. Also, Director Richard Prior sold 18,068 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total transaction of C$1,138,284.00. Insiders sold 76,114 shares of company stock worth $4,704,641 in the last three months. Corporate insiders own 0.03% of the company’s stock.

About TC Energy

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.