TC Energy (TSE:TRP) Given New C$105.00 Price Target at Scotiabank

Key Points

• Scotiabank raised TC Energy’s price target to C$105.00 from C$97.00 and kept a sector outperform rating, implying about 9.17% upside from the prior close.
• Analyst views remain mixed overall: TC Energy has a Hold consensus rating with an average target price of C$91.64, even as several firms recently adjusted their targets upward.
• The stock traded at C$96.18 during the session, near its 52-week high of C$100.18; the company also reported C$0.99 EPS for its latest quarter and revenue of C$3.86 billion.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP had its price objective boosted by investment analysts at Scotiabank from C$97.00 to C$105.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a "sector outperform" rating on the stock. Scotiabank's price objective suggests a potential upside of 9.17% from the company's previous close.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group raised TC Energy from a "sell" rating to a "hold" rating and set a C$62.00 target price for the company in a research note on Sunday, April 19th. Citigroup upped their price target on shares of TC Energy from C$86.00 to C$95.00 and gave the company a "neutral" rating in a report on Tuesday, March 31st. TD set a C$98.00 price objective on shares of TC Energy and gave the company a "hold" rating in a research report on Thursday, June 25th. ATB Cormark Capital Markets lifted their price objective on shares of TC Energy from C$87.00 to C$92.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 8th. Finally, Raymond James Financial boosted their target price on shares of TC Energy from C$74.00 to C$78.00 in a report on Monday, March 30th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of C$91.64.

TC Energy Price Performance

Shares of TSE TRP traded down C$0.17 during mid-day trading on Tuesday, reaching C$96.18. 364,526 shares of the company traded hands, compared to its average volume of 5,097,044. TC Energy has a fifty-two week low of C$64.04 and a fifty-two week high of C$100.18. The firm has a market cap of C$100.20 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 1.69 and a beta of 0.69. The stock has a fifty day simple moving average of C$95.76 and a 200-day simple moving average of C$87.91. The company has a debt-to-equity ratio of 224.52, a current ratio of 0.65 and a quick ratio of 0.40.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last issued its quarterly earnings results on Friday, May 1st. The company reported C$0.99 earnings per share (EPS) for the quarter. TC Energy had a return on equity of 12.53% and a net margin of 21.83%.The firm had revenue of C$3.86 billion during the quarter. Equities 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 TC Energy stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$98.39, for a total value of C$147,585.00. Also, Director Trevor Ebl sold 5,000 shares of TC Energy stock in a transaction dated Friday, May 15th. The stock was sold at an average price of C$93.45, for a total value of C$467,250.00. 0.03% of the stock is owned by insiders.

About TC Energy

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.

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.