TC Energy (TSE:TRP) Rating Increased to Buy at TD

Key Points

• TD upgraded TC Energy from “hold” to “buy” and assigned a C$102 price target, implying approximately 19.9% upside from the stock’s reported C$85.08 price.
• Analyst sentiment is broadly positive: TC Energy has a consensus “Moderate Buy” rating and an average price target of C$95.64, supported by upgrades from several firms.
• TC Energy reported quarterly EPS of C$0.94 on C$3.96 billion in revenue, while its shares remain below their 50-day and 200-day moving averages and carry substantial leverage, with a debt-to-equity ratio of 229.63.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP was upgraded by investment analysts at TD from a "hold" rating to a "buy" rating in a research note issued on Tuesday, BayStreet reports. The firm presently has a C$102.00 price target on the stock. TD's price objective suggests a potential upside of 19.89% from the company's current price.

TRP has been the topic of a number of other research reports. Scotiabank increased their price objective on shares of TC Energy from C$97.00 to C$105.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 21st. Morgan Stanley lowered TC Energy from an "overweight" rating to an "equal weight" rating and set a C$103.00 price target on the stock. in a report on Wednesday, June 10th. ATB Cormark Capital Markets raised their price objective on TC Energy from C$98.00 to C$100.00 and gave the company a "sector perform" rating in a research note on Friday, July 31st. TD Securities upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a report on Monday. Finally, Royal Bank Of Canada raised TC Energy to a "moderate buy" rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$95.64.

TC Energy Trading Up 0.0%

Shares of TRP stock traded up C$0.03 during mid-day trading on Tuesday, hitting C$85.08. The company's stock had a trading volume of 699,384 shares, compared to its average volume of 4,713,018. The company has a market cap of C$88.63 billion, a PE ratio of 25.47, a P/E/G ratio of 1.69 and a beta of 0.68. 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 company's fifty day simple moving average is C$91.04 and its 200-day simple moving average is C$90.79. TC Energy has a 52 week low of C$69.41 and a 52 week high of C$100.18.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last released its earnings results on Thursday, July 30th. The company reported C$0.94 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 during the quarter. As a group, equities research analysts expect that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

Insider Transactions at TC Energy

In other TC Energy news, insider Yvonne Frame-Zawalykut sold 1,500 shares of TC Energy stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$98.39, for a total transaction of C$147,585.00. Company insiders own 0.03% of the company's stock.

TC Energy Company Profile

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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