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

by · The Markets Daily

TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) had its price target boosted by research analysts at BMO Capital Markets from $66.00 to $70.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the pipeline company’s stock. BMO Capital Markets’ target price points to a potential upside of 39.39% from the stock’s previous close.

Several other analysts have also recently commented on the company. The Goldman Sachs Group raised their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. StockNews.com assumed coverage on TC Energy in a report on Monday. They set a “hold” rating for the company. Finally, Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.67.

Check Out Our Latest Stock Report on TRP

TC Energy Trading Up 2.1 %

Shares of TRP stock opened at $50.22 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The business’s 50 day moving average is $47.16 and its two-hundred day moving average is $43.10. The company has a market capitalization of $52.12 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 4.19 and a beta of 0.81. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.29.

TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. Equities analysts forecast that TC Energy will post 2.98 EPS for the current year.

Hedge Funds Weigh In On TC Energy

A number of institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of TC Energy in the first quarter valued at $104,000. O Shaughnessy Asset Management LLC raised its stake in TC Energy by 13.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 31,818 shares of the pipeline company’s stock valued at $1,279,000 after buying an additional 3,758 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of TC Energy by 178.0% during the first quarter. Bessemer Group Inc. now owns 36,117 shares of the pipeline company’s stock valued at $1,451,000 after purchasing an additional 23,125 shares during the last quarter. Natixis bought a new position in shares of TC Energy during the first quarter valued at approximately $270,000. Finally, Capital International Inc. CA grew its holdings in shares of TC Energy by 24.2% during the first quarter. Capital International Inc. CA now owns 478,438 shares of the pipeline company’s stock valued at $19,232,000 after purchasing an additional 93,173 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Company Profile

(Get Free Report)

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.

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