BMO Capital Markets Forecasts Strong Price Appreciation for TC Energy (TSE:TRP) Stock

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective raised by research analysts at BMO Capital Markets from C$55.00 to C$66.00 in a note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential downside of 2.68% from the company’s previous close.

A number of other equities analysts have also recently commented on TRP. Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Barclays upped their price target on TC Energy from C$66.00 to C$67.00 in a research report on Monday, October 21st. ATB Capital lifted their price objective on TC Energy from C$64.00 to C$65.00 in a research report on Friday. National Bankshares increased their target price on shares of TC Energy from C$60.00 to C$70.00 in a report on Friday. Finally, Jefferies Financial Group raised their target price 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. Two investment analysts have rated the stock with a sell rating, five have assigned 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.com, the stock currently has an average rating of “Hold” and an average target price of C$66.15.

TC Energy Price Performance

TSE TRP opened at C$67.82 on Friday. The company has a 50-day moving average price of C$63.74 and a 200-day moving average price of C$57.67. TC Energy has a 52 week low of C$43.83 and a 52 week high of C$69.61. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. The firm has a market capitalization of C$70.53 billion, a P/E ratio of 20.49, a PEG 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 analysts’ consensus estimates of C$0.97 by C$0.06. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The business had revenue of C$4.08 billion during the quarter, compared to analysts’ expectations of C$3.90 billion. Equities research analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current year.

Insider Activity at TC Energy

In other news, Director Jawad Masud sold 6,041 shares of TC Energy stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$63.50, for a total value of C$383,603.50. In related news, Director Jawad Masud sold 6,041 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$63.50, for a total value of C$383,603.50. Also, Director Richard Prior sold 3,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of C$44.00, for a total transaction of C$132,000.00. Over the last ninety days, insiders sold 76,114 shares of company stock valued at $4,704,641. 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.