TC Energy (NYSE:TRP) Given New C$78.00 Price Target at Scotiabank

TC Energy (NYSE:TRP – Get Rating) (TSE:TRP) had its target price lifted by investment analysts at Scotiabank from C$72.00 to C$78.00 in a report issued on Wednesday, The Fly reports.

Other equities analysts also recently issued research reports about the company. StockNews.com started coverage on TC Energy in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Industrial Alliance Securities upgraded TC Energy from a “hold” rating to a “buy” rating and set a C$74.00 target price on the stock in a research report on Monday, April 4th. Raymond James downgraded TC Energy from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, February 16th. Credit Suisse Group restated a “neutral” rating on shares of TC Energy in a research report on Tuesday, February 8th. Finally, CIBC downgraded TC Energy from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, February 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $67.25.

Shares of TC Energy stock opened at $57.46 on Wednesday. TC Energy has a one year low of $44.77 and a one year high of $59.06. The company has a market cap of $56.38 billion, a price-to-earnings ratio of 38.31, a PEG ratio of 4.19 and a beta of 0.71. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.51 and a current ratio of 0.57. The business’s 50 day moving average price is $54.99 and its 200 day moving average price is $51.41.

TC Energy (NYSE:TRP – Get Rating) (TSE:TRP) last announced its quarterly earnings data on Tuesday, February 15th. The pipeline company reported $0.84 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.84. TC Energy had a return on equity of 14.77% and a net margin of 15.09%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the business posted $0.88 earnings per share. On average, analysts predict that TC Energy will post 3.41 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Retirement Planning Co of New England Inc. acquired a new position in TC Energy during the 4th quarter worth $25,000. MUFG Americas Holdings Corp acquired a new position in TC Energy during the 3rd quarter worth $29,000. UMB Bank N A MO acquired a new position in TC Energy during the 4th quarter worth $30,000. MV Capital Management Inc. grew its stake in TC Energy by 38.1% during the 4th quarter. MV Capital Management Inc. now owns 725 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 200 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in TC Energy by 344.9% during the 4th quarter. First Horizon Advisors Inc. now owns 792 shares of the pipeline company’s stock worth $36,000 after purchasing an additional 614 shares in the last quarter. 68.61% of the stock is owned by hedge funds and other institutional investors.

About TC Energy (Get Rating)

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 Storage. The company builds and operates 93,300 km network 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.

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