BMO Capital Markets Forecasts Strong Price Appreciation for TC Energy (TSE:TRP) Stock

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective upped by research analysts at BMO Capital Markets from C$70.00 to C$73.00 in a note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets’ target price suggests a potential upside of 6.79% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. raised their target price on TC Energy from C$70.00 to C$79.00 in a report on Monday, November 18th. ATB Capital lifted their price objective on shares of TC Energy from C$64.00 to C$65.00 in a research note on Friday, November 8th. UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. National Bankshares increased their target price on shares of TC Energy from C$70.00 to C$71.00 in a report on Wednesday, November 20th. Finally, Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and boosted their price target for the company from C$62.00 to C$78.00 in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$69.77.

TC Energy Price Performance

Shares of TRP traded up C$0.45 during mid-day trading on Friday, hitting C$68.36. 804,088 shares of the company traded hands, compared to its average volume of 6,720,368. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. The stock has a market capitalization of C$71.09 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 1.69 and a beta of 0.82. The business has a 50-day moving average of C$65.42 and a 200 day moving average of C$59.50. TC Energy has a one year low of C$43.83 and a one year high of C$70.32.

TC Energy (TSE:TRP) (NYSE:TRP) last released its 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. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The company had revenue of C$4.08 billion during the quarter, compared to analysts’ expectations of C$3.90 billion. As a group, equities analysts expect that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

Insider Activity at TC Energy

In other news, Director David Brast sold 6,743 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of C$69.01, for a total value of C$465,353.98. Also, Director Greg Grant sold 12,000 shares of TC Energy stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of C$62.62, for a total value of C$751,384.80. Insiders have sold 207,976 shares of company stock valued at $13,899,631 over the last three months. 0.03% of the stock is owned by insiders.

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.