TC Energy (TSE:TRP) Stock Rating Upgraded by Royal Bank Of Canada

Key Points

• Royal Bank of Canada upgraded TC Energy to “moderate buy,” joining a generally positive analyst outlook. The stock has a consensus “Moderate Buy” rating and a C$95.64 price target.
• TC Energy shares opened at C$84.31, down 1.5%, below their 50-day and 200-day moving averages. The stock’s 52-week range is C$69.41 to C$100.18.
• The company reported quarterly revenue of C$3.96 billion and earnings of C$0.94 per share, with a 22.46% net margin and 13.07% return on equity.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP was upgraded by stock analysts at Royal Bank Of Canada to a "moderate buy" rating in a report released on Friday, Zacks reports.

Other analysts also recently issued research reports about the company. US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Thursday, August 20th. BMO Capital Markets increased their price target 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. Jefferies Financial Group raised shares of TC Energy from a "hold" rating to a "buy" rating and lifted their price target for the stock from C$100.00 to C$102.00 in a research note on Tuesday, September 1st. TD boosted their price objective on shares of TC Energy from C$100.00 to C$102.00 and gave the stock a "hold" rating in a report on Friday, July 31st. Finally, ATB Cormark Capital Markets boosted their price objective on shares of 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. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$95.64.

TC Energy Stock Down 1.5%

Shares of TSE:TRP opened at C$84.31 on Friday. The firm has a market capitalization of C$87.83 billion, a PE ratio of 25.24, a price-to-earnings-growth 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. TC Energy has a 52-week low of C$69.41 and a 52-week high of C$100.18. The firm has a fifty day moving average of C$91.24 and a 200 day moving average of C$90.77.

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

Insiders Place Their Bets

In related news, insider Yvonne Frame-Zawalykut sold 1,500 shares of the 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. 0.03% of the stock is owned by corporate insiders.

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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