TC Energy (TSE:TRP) Upgraded at TD Securities

Key Points

• TD Securities upgraded TC Energy from “hold” to “strong buy,” while the broader analyst consensus remains “moderate buy” with a C$95.64 target price.
• TC Energy shares opened at C$85.05, up 0.9%, but remained below their 50-day and 200-day moving averages of roughly C$91.
• The company reported quarterly earnings of C$0.94 per share on C$3.96 billion in revenue, with a 22.46% net margin and 13.07% return on equity.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP was upgraded by analysts at TD Securities from a "hold" rating to a "strong-buy" rating in a note issued to investors on Monday, Zacks reports.

A number of other brokerages also recently commented on TRP. Morgan Stanley downgraded shares of TC Energy from an "overweight" rating to an "equal weight" rating and set a C$103.00 price target for the company. in a report on Wednesday, June 10th. Jefferies Financial Group raised shares of TC Energy from a "hold" rating to a "buy" rating and upped their price objective for the company from C$100.00 to C$102.00 in a research note on Tuesday, September 1st. Royal Bank Of Canada upgraded shares of TC Energy to a "moderate buy" rating in a research report on Friday. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Thursday, August 20th. Finally, BMO Capital Markets boosted their price target on TC Energy from C$94.00 to C$99.00 and gave the company an "outperform" rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$95.64.

TC Energy Stock Up 0.9%

Shares of TSE:TRP opened at C$85.05 on Monday. The company has a quick ratio of 0.40, a current ratio of 0.61 and a debt-to-equity ratio of 229.63. The company has a market capitalization of C$88.60 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.69 and a beta of 0.68. TC Energy has a 52-week low of C$69.41 and a 52-week high of C$100.18. The stock's fifty day simple moving average is C$91.04 and its 200-day simple moving average is C$90.79.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last announced its earnings results on Thursday, July 30th. The company reported C$0.94 earnings per share for the quarter. The firm had revenue of C$3.96 billion during the quarter. TC Energy had a net margin of 22.46% and a return on equity of 13.07%. As a group, equities research analysts forecast that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

Insider Buying and Selling at TC Energy

In related news, insider Yvonne Frame-Zawalykut sold 1,500 shares of TC Energy stock in a transaction 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. Company insiders own 0.03% of the company's stock.

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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