TC Energy (TSE:TRP) PT Set at C$105.00 by Scotiabank

Key Points

• Scotiabank set a C$105.00 price target on TC Energy and maintained a “sector outperform” rating, implying 24.56% upside from the prior close.
• Analyst sentiment is broadly positive: TC Energy has a “Moderate Buy” consensus rating and an average price target of C$95.64, with recent upgrades from TD and US Capital Advisors.
• TC Energy shares fell 0.7% to C$84.30 in Tuesday trading. The company reported C$0.94 quarterly EPS on C$3.96 billion in revenue, while an insider recently sold 1,500 shares.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP has been assigned a C$105.00 price target by research analysts at Scotiabank in a research note issued on Tuesday, BayStreet reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's price target points to a potential upside of 24.56% from the stock's previous close.

Several other research analysts have also issued reports on TRP. Morgan Stanley lowered TC Energy from an "overweight" rating to an "equal weight" rating and set a C$103.00 target price on the stock. in a research report on Wednesday, June 10th. ATB Cormark Capital Markets raised their price target on TC Energy from C$98.00 to C$100.00 and gave the stock a "sector perform" rating in a report on Friday, July 31st. TD upgraded TC Energy from a "hold" rating to a "buy" rating and set a C$102.00 price target on the stock in a research note on Tuesday, September 15th. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 20th. Finally, BMO Capital Markets increased their price objective on shares of TC Energy from C$94.00 to C$99.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$95.64.

TC Energy Stock Down 0.7%

TRP traded down C$0.62 during trading on Tuesday, hitting C$84.30. The stock had a trading volume of 6,881,771 shares, compared to its average volume of 4,788,153. The company has a market capitalization of C$87.82 billion, a PE ratio of 25.24, a PEG ratio of 1.69 and a beta of 0.68. TC Energy has a twelve month low of C$69.41 and a twelve month high of C$100.18. The company has a debt-to-equity ratio of 229.63, a quick ratio of 0.40 and a current ratio of 0.61. The stock has a 50 day simple moving average of C$89.92 and a two-hundred day simple moving average of C$90.71.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last issued its quarterly earnings results on Thursday, July 30th. The company reported C$0.94 earnings per share (EPS) for the quarter. TC Energy had a return on equity of 13.07% and a net margin of 22.46%.The business had revenue of C$3.96 billion for the quarter. On average, research analysts predict that TC Energy will post 3.5490515 earnings per share for the current year.

Insider Activity at TC Energy

In related news, insider Yvonne Frame-Zawalykut sold 1,500 shares of the company's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of C$98.39, for a total value of C$147,585.00. 0.03% of the stock is owned by company insiders.

About TC Energy

We are a leader in North American energy infrastructure, spanning Canada, the U.S. and Mexico. For over 75 years, we have proudly connected the world to the energy it needs. Every day, we move more than 30 per cent of the natural gas used across the continent and connect LNG exports to global markets-powering communities and industries. Complemented by strategic ownership and low-risk investments in power generation, our infrastructure delivers affordable, reliable and sustainable energy across North America.

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