ATB Cormark Capital Markets Forecasts Strong Price Appreciation for TC Energy (TSE:TRP) Stock
by Amy Steele · The Cerbat GemTC Energy (TSE:TRP – Get Free Report) (NYSE:TRP) had its price objective increased by investment analysts at ATB Cormark Capital Markets from C$82.00 to C$87.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. ATB Cormark Capital Markets’ price target would indicate a potential downside of 3.33% from the stock’s current price.
Other research analysts also recently issued reports about the company. National Bank Financial raised their price objective on TC Energy from C$85.00 to C$86.00 and gave the company a “hold” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada lifted their price target on TC Energy from C$84.00 to C$92.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Citigroup lifted their price target on TC Energy from C$86.00 to C$95.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 31st. Raymond James Financial lifted their price target on TC Energy from C$74.00 to C$78.00 in a research report on Monday, March 30th. Finally, The Goldman Sachs Group raised TC Energy from a “sell” rating to a “hold” rating and set a C$62.00 price target on the stock in a research report on Sunday, April 19th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, TC Energy currently has an average rating of “Hold” and a consensus target price of C$87.46.
Get Our Latest Stock Report on TC Energy
TC Energy Stock Performance
Shares of TRP stock traded down C$0.63 during trading on Monday, reaching C$90.00. The company had a trading volume of 1,053,579 shares, compared to its average volume of 5,771,738. The firm’s 50 day simple moving average is C$86.66 and its two-hundred day simple moving average is C$79.81. The company has a debt-to-equity ratio of 224.52, a current ratio of 0.65 and a quick ratio of 0.40. TC Energy has a one year low of C$63.34 and a one year high of C$91.50. The company has a market capitalization of C$93.76 billion, a PE ratio of 27.52, a PEG ratio of 1.69 and a beta of 0.76.
TC Energy (TSE:TRP – Get Free Report) (NYSE:TRP) last issued its quarterly earnings data on Friday, May 1st. The company reported C$0.99 earnings per share for the quarter. TC Energy had a return on equity of 12.53% and a net margin of 21.83%.The business had revenue of C$3.86 billion for the quarter. Sell-side analysts forecast that TC Energy will post 3.5490515 earnings per share for the current year.
Insider Buying and Selling
In other TC Energy news, insider Dawn Elizabeth De Lima sold 25,342 shares of TC Energy stock in a transaction that occurred 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 transaction, the insider directly owned 18,490 shares of the company’s stock, valued at C$1,640,617.70. The trade was a 57.82% decrease in their position. 0.03% of the stock is currently owned by corporate insiders.
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.