TC Energy (TSE:TRP) Stock Price Expected to Rise, TD Analyst Says

Key Points

• TC Energy had its price target raised by TD to C$90 (from C$88) while TD kept a "hold" rating; other analysts also bumped targets, leaving a consensus price target of C$87.46 with six Buys and eight Holds.
• Shares traded at C$90 (down 0.7%) with a market cap of C$93.76 billion, a PE of 27.52 and a 52‑week range of C$63.34–C$91.50.
• TC Energy reported Q1 EPS of C$0.99 on C$3.86 billion in revenue and analysts forecast roughly C$3.55 EPS for the year; insider Dawn De Lima sold 25,342 shares, cutting her stake by 57.8%.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP had its price objective upped by stock analysts at TD from C$88.00 to C$90.00 in a research note issued on Monday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock.

A number of other equities analysts have also recently issued reports on TRP. Canadian Imperial Bank of Commerce upgraded TC Energy from a "neutral" rating to a "sector outperform" rating and boosted their price objective for the company from C$85.00 to C$89.00 in a report on Thursday, April 23rd. ATB Cormark Capital Markets upped their price objective on TC Energy from C$82.00 to C$87.00 and gave the company a "sector perform" rating in a research report on Monday. Scotiabank upped their price objective on TC Energy from C$86.00 to C$93.00 and gave the company an "outperform" rating in a research report on Tuesday, February 17th. Jefferies Financial Group upped their price objective on TC Energy from C$80.00 to C$88.00 in a research report on Tuesday, February 17th. Finally, Raymond James Financial upped their price objective on TC Energy from C$74.00 to C$78.00 in a research report on Monday, March 30th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of C$87.46.

TC Energy Trading Down 0.7%

TSE TRP traded down C$0.63 during trading hours on Monday, hitting C$90.00. 1,053,579 shares of the company were exchanged, compared to its average volume of 5,771,738. The stock has a 50-day moving average price of C$86.66 and a 200 day moving average price of C$79.81. The company has a quick ratio of 0.40, a current ratio of 0.65 and a debt-to-equity ratio of 224.52. 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 PE ratio of 27.52, a price-to-earnings-growth ratio of 1.69 and a beta of 0.76.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last announced its 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 business had revenue of C$3.86 billion during the quarter. Analysts forecast that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Dawn Elizabeth De Lima sold 25,342 shares of the business'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 in the company, valued at approximately C$1,640,617.70. The trade was a 57.82% decrease in their ownership of the stock. Insiders own 0.03% of the company's stock.

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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