TC Energy (TSE:TRP) Price Target Raised to C$95.00

Key Points

• Royal Bank of Canada raised its TC Energy price target to C$95 (from C$92) and kept an "outperform" rating, implying roughly a 5.6% upside from current levels.
• Despite several upgrades, the sell‑side consensus remains a "Hold" with an average price target of C$87.46, below RBC's view.
• Shares traded around C$90 (down 0.7%); the company reported Q results of C$0.99 EPS on C$3.86B revenue and a market cap of ~C$93.8B, while an insider sold 25,342 shares (~C$2.25M), cutting her stake by ~57.8%.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP had its target price upped by stock analysts at Royal Bank Of Canada from C$92.00 to C$95.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective suggests a potential upside of 5.56% from the company's current price.

Several other brokerages also recently issued reports on TRP. Citigroup upped their price objective on shares of TC Energy from C$86.00 to C$95.00 and gave the company a "neutral" rating in a research note on Tuesday, March 31st. TD increased their price target on shares of TC Energy from C$88.00 to C$90.00 and gave the stock a "hold" rating in a research note on Monday. Canadian Imperial Bank of Commerce raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating and increased their price target for the stock from C$85.00 to C$89.00 in a research note on Thursday, April 23rd. The Goldman Sachs Group raised shares of TC Energy from a "sell" rating to a "hold" rating and set a C$62.00 price target on the stock in a research note on Sunday, April 19th. Finally, National Bank Financial increased their price target on shares of TC Energy from C$86.00 to C$92.00 and gave the stock an "outperform" rating in a research note on Monday. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, TC Energy has an average rating of "Hold" and a consensus price target of C$87.46.

TC Energy Trading Down 0.7%

Shares of TRP traded down C$0.63 on Monday, hitting C$90.00. 1,053,579 shares of the stock traded hands, compared to its average volume of 5,771,738. The company has a quick ratio of 0.40, a current ratio of 0.65 and a debt-to-equity ratio of 224.52. The firm has a market capitalization of C$93.76 billion, a P/E ratio of 27.52, a P/E/G ratio of 1.69 and a beta of 0.76. The stock's 50 day moving average is C$86.66 and its two-hundred day moving average is C$79.81. TC Energy has a 1 year low of C$63.34 and a 1 year high of C$91.50.

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

Insiders Place Their Bets

In other TC Energy news, insider Dawn Elizabeth De Lima sold 25,342 shares of the stock in a transaction that occurred on Tuesday, March 24th. The shares were 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 C$1,640,617.70. This trade represents a 57.82% decrease in their ownership of the stock. 0.03% of the stock is currently owned by corporate 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.

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