ATB Cormark Capital Markets Forecasts Strong Price Appreciation for TC Energy (TSE:TRP) Stock

TC Energy (TSE:TRP) (NYSE:TRP) had its price target hoisted by equities research analysts at ATB Cormark Capital Markets from C$80.00 to C$82.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price objective would suggest a potential downside of 1.60% from the stock’s previous close.

Several other research analysts have also commented on the stock. Jefferies Financial Group lifted their price target on shares of TC Energy from C$80.00 to C$88.00 in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce raised shares of TC Energy from a “neutral” rating to an “outperform” rating and lifted their price target for the company from C$85.00 to C$89.00 in a report on Thursday. Raymond James Financial lifted their price target on shares of TC Energy from C$74.00 to C$78.00 in a report on Monday, March 30th. Scotiabank lifted their price target on shares of TC Energy from C$86.00 to C$93.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Finally, Citigroup raised their target price on 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. Six equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, TC Energy has an average rating of “Hold” and a consensus target price of C$84.67.

TC Energy Stock Performance

TRP traded up C$1.21 during trading hours on Thursday, hitting C$83.33. 1,158,302 shares of the stock were exchanged, compared to its average volume of 5,579,973. The stock has a 50-day simple moving average of C$86.54 and a 200-day simple moving average of C$79.29. TC Energy has a 12 month low of C$63.34 and a 12 month high of C$90.27. The stock has a market cap of C$86.81 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 1.69 and a beta of 0.72. The company has a debt-to-equity ratio of 223.25, a current ratio of 0.63 and a quick ratio of 0.40.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings data on Friday, February 13th. The company reported C$0.98 earnings per share (EPS) for the quarter. TC Energy had a return on equity of 12.80% and a net margin of 23.23%.The firm had revenue of C$4.17 billion for the quarter. Analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current year.

Insider Transactions at TC Energy

In other TC Energy news, insider Dawn Elizabeth De Lima sold 25,342 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 18,490 shares in the company, valued at approximately C$1,640,617.70. This trade represents 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.