TC Energy (NYSE:TRP) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

TC Energy (NYSE:TRP) (TSE:TRP) had its price target raised by Royal Bank of Canada from $71.00 to $74.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the pipeline company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 59.57% from the company’s previous close.

TRP has been the subject of a number of other reports. StockNews.com started coverage on TC Energy in a report on Wednesday, December 4th. They issued a “hold” rating for the company. The Goldman Sachs Group upped their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. BMO Capital Markets upped their target price on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Finally, US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, TC Energy presently has an average rating of “Hold” and a consensus target price of $62.00.

TC Energy Stock Performance

TRP traded up $0.46 during trading hours on Tuesday, hitting $46.38. The stock had a trading volume of 1,437,460 shares, compared to its average volume of 2,109,496. The stock has a market cap of $48.19 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The company’s fifty day simple moving average is $46.58 and its 200 day simple moving average is $46.60.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.54. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. During the same quarter in the previous year, the firm posted $1.35 earnings per share. Equities analysts anticipate that TC Energy will post 2.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC bought a new stake in TC Energy during the third quarter worth about $28,000. Blue Trust Inc. raised its holdings in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after buying an additional 267 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of TC Energy during the 4th quarter valued at about $31,000. Versant Capital Management Inc bought a new stake in TC Energy in the 4th quarter worth approximately $33,000. Finally, Synergy Investment Management LLC purchased a new stake in TC Energy in the fourth quarter worth approximately $36,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

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.