TC Energy (TSE:TRP) Given New C$74.00 Price Target at Royal Bank of Canada

TC Energy (TSE:TRP) (NYSE:TRP) had its price target upped by investment analysts at Royal Bank of Canada from C$71.00 to C$74.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s target price would indicate a potential upside of 11.80% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets lifted their target price on shares of TC Energy from C$70.00 to C$73.00 in a research report on Friday, November 29th. Scotiabank boosted their price objective on shares of TC Energy from C$74.00 to C$75.00 in a report on Wednesday, November 20th. ATB Capital boosted their price objective on shares of TC Energy from C$64.00 to C$65.00 in a report on Friday, November 8th. National Bankshares boosted their price objective on shares of TC Energy from C$70.00 to C$71.00 in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of TC Energy from C$70.00 to C$79.00 in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of C$73.25.

TC Energy Price Performance

TC Energy stock traded up C$1.05 during mid-day trading on Tuesday, hitting C$66.19. 1,371,884 shares of the company traded hands, compared to its average volume of 4,462,274. TC Energy has a one year low of C$43.83 and a one year high of C$70.32. The stock has a market cap of C$68.26 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. The stock has a fifty day moving average price of C$66.87 and a 200-day moving average price of C$64.86.

Insider Buying and Selling

In related news, Director Francois Lionel Poirier acquired 4,800 shares of TC Energy stock in a transaction on Tuesday, February 18th. The shares were acquired at an average cost of C$65.05 per share, with a total value of C$312,239.52. Also, Director David Brast sold 6,743 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of C$69.01, for a total transaction of C$465,353.98. Insiders have sold a total of 397,921 shares of company stock valued at $26,679,402 over the last three months. 0.03% of the stock is owned by company 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.