BMO Capital Markets Issues Positive Forecast for TC Energy (TSE:TRP) Stock Price

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

A number of other equities research analysts also recently weighed in on TRP. ATB Capital upped their target price on TC Energy from C$64.00 to C$65.00 in a research report on Friday, November 8th. National Bankshares raised their target price on TC Energy from C$70.00 to C$71.00 in a research note on Wednesday, November 20th. Scotiabank boosted their price target on shares of TC Energy from C$74.00 to C$75.00 in a research report on Wednesday, November 20th. Jefferies Financial Group raised their price objective on shares of TC Energy from C$64.00 to C$65.00 in a research report on Wednesday, November 20th. Finally, Morgan Joseph upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from C$62.00 to C$78.00 in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$69.77.

TC Energy Stock Performance

Shares of TSE:TRP traded up C$0.45 on Friday, hitting C$68.36. The company’s stock had a trading volume of 804,088 shares, compared to its average volume of 6,720,368. TC Energy has a 12 month low of C$43.83 and a 12 month high of C$70.32. The stock’s 50-day moving average is C$65.42 and its two-hundred day moving average is C$59.50. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. The company has a market capitalization of C$71.09 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of C$3.90 billion. On average, equities research analysts forecast that TC Energy will post 3.5490515 EPS for the current year.

Insider Activity

In other news, Director David Brast sold 6,743 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of C$69.01, for a total transaction of C$465,353.98. Also, Director Colin Lindley sold 3,194 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of C$68.70, for a total transaction of C$219,425.56. Following the transaction, the director now owns 697 shares of the company’s stock, valued at approximately C$47,883.41. The trade was a 82.09 % decrease in their ownership of the stock. Insiders sold a total of 207,976 shares of company stock worth $13,899,631 in 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.