TC Energy (TSE:TRP) Price Target Raised to C$80.00 at ATB Cormark Capital Markets

TC Energy (TSE:TRP) (NYSE:TRP) had its price target upped by equities research analysts at ATB Cormark Capital Markets from C$73.00 to C$80.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. ATB Cormark Capital Markets’ price objective suggests a potential downside of 5.74% from the stock’s current price.

Several other research firms have also issued reports on TRP. TD Securities lowered shares of TC Energy from a “buy” rating to a “hold” rating and boosted their target price for the company from C$84.00 to C$88.00 in a report on Tuesday. Scotiabank upped their price target on TC Energy from C$86.00 to C$93.00 and gave the company an “outperform” rating in a research report on Tuesday. National Bank Financial increased their price target on shares of TC Energy from C$85.00 to C$86.00 and gave the stock a “sector perform” rating in a report on Tuesday. BMO Capital Markets raised shares of TC Energy from a “hold” rating to an “outperform” rating and boosted their price objective for the company from C$73.00 to C$83.00 in a research note on Friday, November 7th. Finally, Canadian Imperial Bank of Commerce cut shares of TC Energy from an “outperform” rating to a “neutral” rating and raised their price objective for the company from C$81.00 to C$85.00 in a research report on Tuesday. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$84.00.

TC Energy Stock Performance

TSE TRP traded down C$1.65 during trading on Tuesday, reaching C$84.87. 2,107,940 shares of the company’s stock were exchanged, compared to its average volume of 4,875,110. TC Energy has a fifty-two week low of C$62.17 and a fifty-two week high of C$86.97. The stock has a market capitalization of C$88.35 billion, a P/E ratio of 25.95, a PEG ratio of 1.69 and a beta of 0.86. The business has a 50 day moving average price of C$77.33 and a 200-day moving average price of C$74.36. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results 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. Sell-side analysts forecast that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

About TC Energy

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.