TC Energy (TSE:TRP) Stock Price Target Raised at Citigroup

Key Points

• Citigroup raised its TC Energy price target from C$95 to C$101, while keeping a neutral rating; the new target implies 9.33% upside from the prior close.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of C$96.71, with 11 analysts rating the stock Buy or Strong Buy.
• TC Energy reported quarterly EPS of C$0.94 and revenue of C$4.03 billion. Its shares rose 0.4% to C$92.38 on Friday.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP had its target price increased by Citigroup from C$95.00 to C$101.00 in a research report issued to clients and investors on Friday, BayStreet reports. The firm presently has a "neutral" rating on the stock. Citigroup's price target suggests a potential upside of 9.33% from the company's previous close.

Several other analysts also recently issued reports on TRP. National Bank Financial lifted their price target on TC Energy from C$102.00 to C$103.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. TD raised TC Energy from a "hold" rating to a "buy" rating and set a C$102.00 price objective for the company in a research report on Tuesday, September 15th. Scotiabank set a C$105.00 price objective on TC Energy and gave the stock a "sector outperform" rating in a report on Tuesday, September 22nd. BMO Capital Markets lifted their target price on 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. Finally, ATB Cormark Capital Markets boosted their target price 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. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$96.71.

TC Energy Stock Up 0.4%

Shares of TRP stock traded up C$0.34 during trading hours on Friday, hitting C$92.38. 746,978 shares of the company were exchanged, compared to its average volume of 4,930,236. The business has a 50 day moving average of C$86.45 and a two-hundred day moving average of C$89.00. The company has a current ratio of 0.57, a quick ratio of 0.40 and a debt-to-equity ratio of 226.38. TC Energy has a 52 week low of C$72.97 and a 52 week high of C$100.18. The company has a market capitalization of C$96.24 billion, a PE ratio of 24.77, a PEG ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last posted its quarterly earnings data on Thursday, November 5th. The company reported C$0.94 EPS for the quarter. The business had revenue of C$4.03 billion for the quarter. TC Energy had a net margin of 24.57% and a return on equity of 14.53%. Analysts anticipate that TC Energy will post 3.55 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.