BMO Capital Markets Boosts TC Energy (TSE:TRP) Price Target to C$73.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective lifted by stock analysts at BMO Capital Markets from C$70.00 to C$73.00 in a research note issued to investors on Friday,BayStreet.CA reports.

TRP has been the subject of a number of other research reports. Barclays raised their price objective on shares of TC Energy from C$67.00 to C$74.00 in a report on Wednesday, November 20th. National Bankshares raised their price target on shares of TC Energy from C$70.00 to C$71.00 in a research note on Wednesday, November 20th. Royal Bank of Canada lifted their price target on shares of TC Energy from C$67.00 to C$71.00 in a report on Friday, November 8th. UBS Group upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. Finally, Morgan Joseph raised 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$69.77.

TC Energy Stock Performance

The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. TC Energy has a fifty-two week low of C$43.83 and a fifty-two week high of C$70.32. The firm has a market cap of C$70.99 billion, a PE ratio of 20.65, a P/E/G ratio of 1.69 and a beta of 0.82. The stock’s 50 day simple moving average is C$65.42 and its two-hundred day simple moving average is C$59.50.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share (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 net margin of 21.38% and a return on equity of 10.68%. On average, research analysts forecast that TC Energy will post 3.5490515 earnings per share for the current year.

Insiders Place Their Bets

In other TC Energy news, Director Greg Grant sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of C$62.62, for a total transaction of C$751,384.80. Also, Senior Officer Patrick M. Keys sold 17,127 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of C$62.71, for a total value of C$1,074,049.58. Over the last quarter, insiders have sold 207,976 shares of company stock worth $13,899,631. 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.