Royal Bank Of Canada Issues Positive Forecast for TC Energy (TSE:TRP) Stock Price

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective boosted by equities researchers at Royal Bank Of Canada from C$84.00 to C$92.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 8.40% from the stock’s previous close.

A number of other analysts also recently commented on TRP. TD Securities dropped their price objective on TC Energy from C$81.00 to C$80.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Raymond James Financial boosted their price target on shares of TC Energy from C$71.00 to C$74.00 and gave the stock a “market perform” rating in a research report on Tuesday. Canadian Imperial Bank of Commerce raised their price objective on shares of TC Energy from C$78.00 to C$81.00 in a research report on Wednesday, December 17th. National Bank Financial increased their target price on shares of TC Energy from C$76.00 to C$85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Finally, Scotiabank lifted their price target on shares of TC Energy from C$81.00 to C$86.00 in a research report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and an average price target of C$84.00.

TC Energy Stock Performance

Shares of TRP stock traded down C$1.65 during trading hours on Tuesday, reaching C$84.87. The stock had a trading volume of 2,107,940 shares, compared to its average volume of 4,875,110. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40. The firm has a 50-day simple moving average of C$77.33 and a 200-day simple moving average of C$74.36. The firm has a market capitalization of C$88.35 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.69 and a beta of 0.86. TC Energy has a twelve month low of C$62.17 and a twelve month high of C$86.97.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data on Friday, February 13th. The company reported C$0.98 EPS for the quarter. TC Energy had a net margin of 32.39% and a return on equity of 17.25%. The business had revenue of C$4.17 billion for the quarter. As a group, equities analysts forecast that TC Energy will post 3.5490515 earnings per share for the current year.

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.