TC Energy (TSE:TRP) Stock Price Expected to Rise, TD Securities Analyst Says

TC Energy (TSE:TRP) (NYSE:TRP) had its price target hoisted by analysts at TD Securities from C$74.00 to C$76.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price suggests a potential upside of 8.05% from the stock’s current price.

Several other brokerages have also issued reports on TRP. Citigroup raised TC Energy to a “hold” rating in a research note on Friday, April 4th. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada lifted their price target on shares of TC Energy from C$71.00 to C$74.00 in a research report on Tuesday, February 18th. CIBC increased their price objective on shares of TC Energy from C$70.00 to C$71.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. Finally, Jefferies Financial Group lifted their target price on shares of TC Energy from C$65.00 to C$71.00 in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$74.17.

TC Energy Stock Performance

TRP stock opened at C$70.34 on Friday. The company has a 50 day moving average price of C$67.37 and a 200 day moving average price of C$67.00. TC Energy has a fifty-two week low of C$46.07 and a fifty-two week high of C$70.97. 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 stock has a market capitalization of C$72.54 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

Insiders Place Their Bets

In other news, Director Francois Lionel Poirier purchased 4,800 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of C$65.05 per share, for a total transaction of C$312,239.52. Also, Director Gregory Romero acquired 1,600 shares of TC Energy stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average cost of C$43.95 per share, with a total value of C$70,319.84. In the last three months, insiders have purchased 13,287 shares of company stock worth $842,568 and have sold 145,977 shares worth $9,810,511. Corporate insiders own 0.03% of the company’s stock.

TC Energy Company Profile

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.