TC Energy (TSE:TRP) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP had its price target lifted by equities research analysts at BMO Capital Markets from C$55.00 to C$66.00 in a report released on Friday,BayStreet.CA reports. BMO Capital Markets' price target indicates a potential downside of 2.68% from the company's previous close.

A number of other analysts have also recently weighed in on TRP. Royal Bank of Canada upped their price target on shares of TC Energy from C$67.00 to C$71.00 in a research report on Friday. CIBC upped their target price on TC Energy from C$66.00 to C$67.00 in a research report on Friday. Veritas upgraded TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. Morgan Joseph raised TC Energy from an "underweight" rating to an "overweight" rating and boosted their price target for the stock from C$62.00 to C$78.00 in a research report on Friday, October 25th. Finally, Scotiabank increased their price objective on shares of TC Energy from C$68.00 to C$74.00 in a research report on Friday. Two analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, TC Energy currently has an average rating of "Hold" and a consensus target price of C$66.15.

TC Energy Trading Down 1.5 %

Shares of TSE TRP traded down C$1.01 during midday trading on Friday, hitting C$67.82. The stock had a trading volume of 3,536,000 shares, compared to its average volume of 7,012,491. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. TC Energy has a 1-year low of C$43.83 and a 1-year high of C$69.61. The company has a market capitalization of C$70.53 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 1.69 and a beta of 0.82. The company has a fifty day moving average price of C$63.74 and a 200 day moving average price of C$57.67.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last announced its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, beating analysts' consensus estimates of C$0.97 by C$0.06. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The firm had revenue of C$4.08 billion for the quarter, compared to analysts' expectations of C$3.90 billion. On average, analysts predict that TC Energy will post 3.5490515 earnings per share for the current year.

Insider Buying and Selling

In other news, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of the business's stock in a transaction on Tuesday, September 24th. The shares were purchased at an average price of C$63.06 per share, for a total transaction of C$34,367.70. In other news, Director Jawad Masud sold 6,041 shares of the firm's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$63.50, for a total value of C$383,603.50. Also, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of the firm's stock in a transaction dated Tuesday, September 24th. The stock was acquired at an average cost of C$63.06 per share, with a total value of C$34,367.70. Over the last three months, insiders sold 76,114 shares of company stock worth $4,704,641. Corporate 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.