TC Energy (TSE:TRP) Upgraded at The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded TC Energy from “hold” to “strong-buy,” adding to generally positive analyst sentiment. MarketBeat reports a consensus “Moderate Buy” rating and an average price target of C$95.64.
• Other analysts have mostly raised their views and price targets, although Morgan Stanley downgraded the stock to “equal weight.” Targets cited in the article range from C$99 to C$103.
• TC Energy shares rose 1.2% to open at C$83.41, below the consensus target. The company recently reported quarterly revenue of C$3.96 billion and earnings of C$0.94 per share.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP was upgraded by analysts at The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a report released on Wednesday, Zacks reports.

Several other analysts have also issued reports on TRP. BMO Capital Markets upped their target price on TC Energy from C$94.00 to C$99.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Royal Bank Of Canada upgraded TC Energy to a "moderate buy" rating in a research note on Friday, September 11th. National Bank Financial boosted their price target on TC Energy from C$102.00 to C$103.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Morgan Stanley cut TC Energy from an "overweight" rating to an "equal weight" rating and set a C$103.00 price objective on the stock. in a research note on Wednesday, June 10th. Finally, Jefferies Financial Group raised shares of TC Energy from a "hold" rating to a "buy" rating and raised their target price for the company from C$100.00 to C$102.00 in a research note on Tuesday, September 1st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, TC Energy has an average rating of "Moderate Buy" and a consensus target price of C$95.64.

TC Energy Trading Up 1.2%

TSE:TRP opened at C$83.41 on Wednesday. The company has a market cap of C$86.89 billion, a P/E ratio of 24.97, a price-to-earnings-growth 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 business has a 50 day moving average price of C$87.69 and a two-hundred day moving average price of C$90.54. The company has a quick ratio of 0.40, a current ratio of 0.61 and a debt-to-equity ratio of 229.63.

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

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