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

TC Energy (TSE:TRP) (NYSE:TRP) had its price target hoisted by investment analysts at BMO Capital Markets from C$66.00 to C$70.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price objective would indicate a potential downside of 0.20% from the stock’s previous close.

Several other brokerages also recently weighed in on TRP. JPMorgan Chase & Co. boosted their price objective on TC Energy from C$70.00 to C$79.00 in a research report on Monday. Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Royal Bank of Canada upped their target price on TC Energy from C$67.00 to C$71.00 in a report on Friday, November 8th. Morgan Joseph upgraded TC Energy from an “underweight” rating to an “overweight” rating and upped their target price for the company from C$62.00 to C$78.00 in a report on Friday, October 25th. Finally, Scotiabank upped their target price on TC Energy from C$74.00 to C$75.00 in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, TC Energy has a consensus rating of “Hold” and an average target price of C$69.54.

TC Energy Stock Performance

Shares of TRP opened at C$70.14 on Wednesday. The company has a market cap of C$72.95 billion, a PE ratio of 21.19, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. 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 50-day moving average price of C$64.86 and a 200-day moving average price of C$58.90. TC Energy has a 12-month low of C$43.83 and a 12-month high of C$70.24.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.06. The company had revenue of C$4.08 billion for the quarter, compared to analysts’ expectations 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, equities analysts forecast that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Mark Yeomans sold 6,500 shares of the stock in a transaction dated 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 Trevor Ebl sold 9,554 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of C$68.48, for a total value of C$654,219.70. Insiders have sold a total of 214,476 shares of company stock valued at $14,299,929 over the last ninety days. 0.03% of the stock is currently owned by corporate insiders.

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.