BMO Capital Markets Boosts TC Energy (TSE:TRP) Price Target to C$66.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective lifted by analysts at BMO Capital Markets from C$55.00 to C$66.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. BMO Capital Markets’ target price points to a potential downside of 3.07% from the stock’s current price.

A number of other brokerages also recently issued reports on TRP. ATB Capital lifted their price target on TC Energy from C$64.00 to C$65.00 in a research report on Friday. JPMorgan Chase & Co. lowered their price objective on shares of TC Energy from C$66.00 to C$60.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. Barclays upped their target price on shares of TC Energy from C$66.00 to C$67.00 in a research report on Monday, October 21st. Scotiabank raised their price target on TC Energy from C$68.00 to C$74.00 in a research report on Friday. Finally, Jefferies Financial Group boosted their target price on TC Energy from C$57.00 to C$66.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$66.15.

TC Energy Price Performance

Shares of TRP traded down C$0.74 during midday trading on Friday, hitting C$68.09. 924,674 shares of the company traded hands, compared to its average volume of 7,000,457. The stock has a 50-day moving average of C$63.46 and a 200-day moving average of C$57.39. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. TC Energy has a one year low of C$43.83 and a one year high of C$69.61. The firm has a market cap of C$70.81 billion, a P/E ratio of 20.58, a PEG ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, beating the consensus estimate of C$0.97 by C$0.06. The firm had revenue of C$4.08 billion during the quarter, compared to the consensus estimate of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. As a group, sell-side analysts predict that TC Energy will post 3.5490515 EPS for the current fiscal year.

Insider Activity

In related news, Director Jawad Masud sold 6,041 shares of TC Energy stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$63.50, for a total value of C$383,603.50. In other TC Energy news, Director Jawad Masud sold 6,041 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$63.50, for a total transaction of C$383,603.50. Also, Senior Officer Dawn Elizabeth De Lima bought 555 shares of the stock in a transaction dated Wednesday, September 18th. The stock was purchased at an average price of C$62.82 per share, with a total value of C$34,865.66. Over the last three months, insiders have sold 76,114 shares of company stock valued at $4,704,641. Company insiders own 0.03% of the company’s stock.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.