TC Energy (TSE:TRP) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

TC Energy (TSE:TRP) (NYSE:TRP) had its price target increased by BMO Capital Markets from C$66.00 to C$70.00 in a report released on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price objective points to a potential downside of 0.20% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Morgan Joseph upgraded TC Energy from an “underweight” rating to an “overweight” rating and increased their price target for the stock from C$62.00 to C$78.00 in a report on Friday, October 25th. Barclays increased their price target on TC Energy from C$66.00 to C$67.00 in a report on Monday, October 21st. Jefferies Financial Group increased their price target on TC Energy from C$64.00 to C$65.00 in a report on Wednesday. CIBC upped their target price on TC Energy from C$67.00 to C$68.00 in a research report on Wednesday. Finally, National Bankshares upped their target price on TC Energy from C$70.00 to C$71.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$69.54.

TC Energy Stock Performance

TC Energy stock opened at C$70.14 on Wednesday. The business has a 50 day moving average of C$64.86 and a 200-day moving average of C$58.90. TC Energy has a 1 year low of C$43.83 and a 1 year high of C$70.24. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. The company has a market capitalization of C$72.95 billion, a P/E ratio of 21.19, a P/E/G 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. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The business had revenue of C$4.08 billion for the quarter, compared to analysts’ expectations of C$3.90 billion. On average, equities research analysts predict that TC Energy will post 3.5490515 earnings per share for the current year.

Insider Activity

In other news, Director Mark Yeomans sold 6,500 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of C$61.58, for a total transaction of C$400,297.95. Also, Director Colin Lindley sold 3,194 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of C$68.70, for a total value of C$219,425.56. Following the transaction, the director now owns 697 shares of the company’s stock, valued at C$47,883.41. The trade was a 82.09 % decrease in their position. Insiders sold a total of 214,476 shares of company stock valued at $14,299,929 in the last ninety days. 0.03% of the stock is currently owned by insiders.

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.