TC Energy (TSE:TRP) Price Target Raised to C$92.00

Key Points

• National Bank Financial raised TC Energy's price target from C$86.00 to C$92.00 and kept an "outperform" rating, implying roughly a 2.22% upside from the current price.
• Despite multiple upward revisions, the analyst consensus remains a "Hold" with a consensus target of C$87.46, while the stock trades around C$90 and is close to its 52‑week high of C$91.50, indicating the market price is above analyst consensus.
• Insider Dawn Elizabeth De Lima sold 25,342 shares in March (a 57.82% reduction in her holdings); insiders now own just 0.03% of the company.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP had its price target hoisted by research analysts at National Bank Financial from C$86.00 to C$92.00 in a research note issued on Monday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's price target points to a potential upside of 2.22% from the stock's current price.

Other equities research analysts have also recently issued research reports about the company. TD Securities cut TC Energy from a "buy" rating to a "hold" rating and raised their target price for the stock from C$84.00 to C$88.00 in a research note on Tuesday, February 17th. Citigroup raised their target price on TC Energy from C$86.00 to C$95.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 31st. ATB Cormark Capital Markets raised their target price on TC Energy from C$82.00 to C$87.00 and gave the stock a "sector perform" rating in a research note on Monday. Canadian Imperial Bank of Commerce raised TC Energy from a "neutral" rating to a "sector outperform" rating and raised their target price for the stock from C$85.00 to C$89.00 in a research note on Thursday, April 23rd. Finally, 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. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of C$87.46.

TC Energy Trading Down 0.7%

Shares of TSE:TRP traded down C$0.63 during trading on Monday, reaching C$90.00. The stock had a trading volume of 1,053,579 shares, compared to its average volume of 5,771,738. The firm's fifty day moving average is C$86.66 and its 200 day moving average is C$79.81. The company has a debt-to-equity ratio of 224.52, a quick ratio of 0.40 and a current ratio of 0.65. TC Energy has a 52 week low of C$63.34 and a 52 week high of C$91.50. The stock has a market cap of C$93.76 billion, a price-to-earnings ratio of 27.52, a P/E/G ratio of 1.69 and a beta of 0.76.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last posted its quarterly earnings data on Friday, May 1st. The company reported C$0.99 EPS for the quarter. TC Energy had a net margin of 21.83% and a return on equity of 12.53%. The company had revenue of C$3.86 billion for the quarter. As a group, equities analysts forecast that TC Energy will post 3.5490515 EPS for the current fiscal year.

Insider Buying and Selling

In other TC Energy news, insider Dawn Elizabeth De Lima sold 25,342 shares of the firm's stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of C$88.73, for a total value of C$2,248,595.66. Following the completion of the sale, the insider owned 18,490 shares of the company's stock, valued at approximately C$1,640,617.70. This trade represents a 57.82% decrease in their ownership of the stock. 0.03% of the stock is owned by corporate 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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