TC Energy (TSE:TRP) Price Target Raised to C$74.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective raised by research analysts at Raymond James Financial from C$71.00 to C$74.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James Financial’s price target suggests a potential downside of 12.81% from the company’s previous close.

Several other brokerages have also issued reports on TRP. Canadian Imperial Bank of Commerce boosted their target price on TC Energy from C$78.00 to C$81.00 in a research report on Wednesday, December 17th. Jefferies Financial Group upped their price target on shares of TC Energy from C$74.00 to C$80.00 in a report on Wednesday, February 4th. Scotiabank raised their target price on shares of TC Energy from C$81.00 to C$86.00 in a research report on Friday, January 16th. Royal Bank Of Canada upped their price objective on shares of TC Energy from C$74.00 to C$84.00 in a report on Friday, November 7th. Finally, TD Securities dropped their target price on TC Energy from C$81.00 to C$80.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Hold” and a consensus target price of C$84.00.

TC Energy Stock Performance

Shares of TRP stock traded down C$1.65 during trading hours on Tuesday, reaching C$84.87. 2,107,940 shares of the company traded hands, compared to its average volume of 4,875,110. The firm has a 50-day moving average price of C$77.33 and a 200 day moving average price of C$74.36. The company has a market cap of C$88.35 billion, a P/E ratio of 25.95, a P/E/G ratio of 1.69 and a beta of 0.86. TC Energy has a 12-month low of C$62.17 and a 12-month high of C$86.97. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings results on Friday, February 13th. The company reported C$0.98 earnings per share for the quarter. TC Energy had a net margin of 32.39% and a return on equity of 17.25%. The business had revenue of C$4.17 billion for the quarter. As a group, sell-side analysts predict that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

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.