TC Energy (TSE:TRP) Upgraded by The Goldman Sachs Group to Hold Rating

Key Points

• The Goldman Sachs Group upgraded TC Energy (TSE:TRP) from a "strong sell" to a "hold" rating.
• TC Energy has a consensus Hold rating with a consensus target price of C$86.18, and several firms (Scotiabank, Jefferies, Raymond James, ATB Cormark) recently raised their price targets.
• Insider Dawn Elizabeth De Lima sold 25,342 shares for about C$2.25 million, reducing her ownership by 57.82%, and corporate insiders collectively own just 0.03% of the stock.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP was upgraded by analysts at The Goldman Sachs Group from a "strong sell" rating to a "hold" rating in a note issued to investors on Sunday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Scotiabank raised their price target on shares of TC Energy from C$86.00 to C$93.00 and gave the stock an "outperform" rating in a report on Tuesday, February 17th. Jefferies Financial Group raised their price target on shares of TC Energy from C$80.00 to C$88.00 in a report on Tuesday, February 17th. Raymond James Financial raised their price target on shares of TC Energy from C$74.00 to C$78.00 in a report on Monday, March 30th. Canadian Imperial Bank of Commerce cut shares of TC Energy from an "outperform" rating to a "hold" rating and raised their price target for the stock from C$81.00 to C$85.00 in a report on Tuesday, February 17th. Finally, ATB Cormark Capital Markets raised their price target on shares of TC Energy from C$73.00 to C$80.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, TC Energy currently has a consensus rating of "Hold" and a consensus target price of C$86.18.

TC Energy Trading Up 0.1%

TSE:TRP opened at C$83.03 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.40 and a debt-to-equity ratio of 223.25. The stock has a market capitalization of C$86.50 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 1.69 and a beta of 0.72. The firm has a fifty day simple moving average of C$86.53 and a two-hundred day simple moving average of C$79.24. TC Energy has a 12 month low of C$63.34 and a 12 month high of C$90.27.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last posted its quarterly earnings results on Friday, February 13th. The company reported C$0.98 EPS for the quarter. The business had revenue of C$4.17 billion during the quarter. TC Energy had a net margin of 23.23% and a return on equity of 12.80%. Analysts expect that TC Energy will post 3.5490515 EPS for the current fiscal year.

Insider Activity

In other news, insider Dawn Elizabeth De Lima sold 25,342 shares of TC Energy stock in a transaction dated 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 completion of the transaction, the insider directly owned 18,490 shares in the company, 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 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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