Citigroup Issues Positive Forecast for TC Energy (TSE:TRP) Stock Price

Key Points

• Citigroup raised its price target on TC Energy to C$95 (from C$86) while keeping a "neutral" rating, implying about a 10.12% upside from the prior close.
• Analyst sentiment is mixed: the consensus rating is "Hold" with an average target of C$86.18 (four Buys vs. eight Holds), though RBC is more bullish with an "Outperform" and a C$92 target.
• Shares traded at C$86.27 on Tuesday with heavy volume; TC Energy has a market cap of C$89.87B, PE of 26.38, reported C$0.98 EPS and C$4.17B revenue for the quarter, and carries a high debt-to-equity ratio of 223.25.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP had its price target hoisted by Citigroup from C$86.00 to C$95.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has a "neutral" rating on the stock. Citigroup's price target points to a potential upside of 10.12% from the company's previous close.

Other equities analysts have also recently issued research reports about the company. Raymond James Financial lifted their price target on TC Energy from C$74.00 to C$78.00 in a research note on Monday. National Bank Financial raised their target price on shares of TC Energy from C$85.00 to C$86.00 and gave the stock a "hold" rating in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce downgraded shares of TC Energy from an "outperform" rating to a "hold" rating and lifted their target price for the stock from C$81.00 to C$85.00 in a research report on Tuesday, February 17th. Jefferies Financial Group boosted their price target on shares of TC Energy from C$80.00 to C$88.00 in a report on Tuesday, February 17th. Finally, Royal Bank Of Canada upped their price target on shares of TC Energy from C$84.00 to C$92.00 and gave the company an "outperform" rating in a research report on Tuesday, February 17th. Four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of C$86.18.

TC Energy Price Performance

Shares of TRP traded down C$1.49 during trading hours on Tuesday, hitting C$86.27. 8,353,136 shares of the company were exchanged, compared to its average volume of 5,369,012. The company has a debt-to-equity ratio of 223.25, a current ratio of 0.63 and a quick ratio of 0.40. The company has a market capitalization of C$89.87 billion, a PE ratio of 26.38, a PEG ratio of 1.69 and a beta of 0.83. The firm has a fifty day simple moving average of C$84.33 and a 200-day simple moving average of C$77.90. TC Energy has a one year low of C$62.17 and a one year high of C$89.68.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last announced its earnings results on Friday, February 13th. The company reported C$0.98 earnings per share (EPS) for the quarter. TC Energy had a return on equity of 12.80% and a net margin of 23.23%.The company had revenue of C$4.17 billion for the quarter. As a group, sell-side analysts predict that TC Energy will post 3.5490515 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Dawn Elizabeth De Lima sold 25,342 shares of the stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of C$88.73, for a total transaction of C$2,248,595.66. Following the transaction, the insider owned 18,490 shares of the company's stock, valued at approximately C$1,640,617.70. This represents a 57.82% decrease in their position. 0.03% of the stock is owned by insiders.

TC Energy Company Profile

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.

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