Citigroup Issues Positive Forecast for TC Energy (TSE:TRP) Stock Price

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective raised by Citigroup from C$86.00 to C$95.00 in a research report released on Tuesday morning,BayStreet.CA reports. The firm currently has a neutral rating on the stock.

Several other equities research analysts also recently commented on the company. Canadian Imperial Bank of Commerce downgraded TC Energy from an “outperform” rating to a “hold” rating and boosted their target price for the stock from C$81.00 to C$85.00 in a report on Tuesday, February 17th. Raymond James Financial raised their price target on TC Energy from C$74.00 to C$78.00 in a report on Monday. National Bank Financial lifted their price target on TC Energy from C$85.00 to C$86.00 and gave the stock a “hold” rating in a research report on Tuesday, February 17th. Scotiabank upped their price target on shares of TC Energy from C$86.00 to C$93.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Finally, ATB Cormark Capital Markets raised their price objective on shares of TC Energy from C$73.00 to C$80.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 17th. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$86.18.

TC Energy Price Performance

TRP stock opened at C$87.11 on Tuesday. The company has a debt-to-equity ratio of 223.25, a quick ratio of 0.40 and a current ratio of 0.63. The firm has a 50 day moving average price of C$84.57 and a 200-day moving average price of C$78.01. TC Energy has a 52-week low of C$62.17 and a 52-week high of C$89.68. The firm has a market capitalization of C$90.75 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 1.69 and a beta of 0.83.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Friday, February 13th. The company reported C$0.98 earnings per share for the quarter. TC Energy had a return on equity of 12.80% and a net margin of 23.23%.The company had revenue of C$4.17 billion for the quarter. Equities research analysts forecast that TC Energy will post 3.5490515 EPS for the current fiscal year.

Insider Activity

In related news, insider Dawn Elizabeth De Lima sold 25,342 shares of the stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of C$88.73, for a total transaction of C$2,248,595.66. Following the sale, the insider directly owned 18,490 shares of the company’s stock, valued at C$1,640,617.70. This trade represents a 57.82% decrease in their ownership of the stock. 0.03% of the stock is currently owned by insiders.

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.