ATB Cormark Capital Markets Forecasts Strong Price Appreciation for TC Energy (TSE:TRP) Stock

TC Energy (TSE:TRP) (NYSE:TRP) had its target price lifted by analysts at ATB Cormark Capital Markets from C$80.00 to C$82.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ target price would suggest a potential downside of 3.29% from the stock’s current price.

Several other research analysts have also issued reports on the stock. Canadian Imperial Bank of Commerce raised shares of TC Energy from a “neutral” rating to a “sector outperform” rating and increased their price target for the stock from C$85.00 to C$89.00 in a research report on Thursday. Royal Bank Of Canada increased their price target on shares of TC Energy from C$84.00 to C$92.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Scotiabank increased 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 report on Tuesday, February 17th. The Goldman Sachs Group raised shares of TC Energy from a “sell” rating to a “hold” rating and set a C$62.00 price target for the company in a research report on Sunday, April 19th. Finally, 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 “hold” rating in a research report on Tuesday, February 17th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$84.67.

TC Energy Stock Performance

TSE:TRP opened at C$84.79 on Thursday. TC Energy has a 12-month low of C$63.34 and a 12-month high of C$90.27. The company has a quick ratio of 0.40, a current ratio of 0.63 and a debt-to-equity ratio of 223.25. The firm has a market capitalization of C$88.33 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 1.69 and a beta of 0.72. The firm has a 50-day moving average price of C$86.50 and a 200 day moving average price of C$79.38.

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 (EPS) for the quarter. TC Energy had a net margin of 23.23% and a return on equity of 12.80%. The firm had revenue of C$4.17 billion during the quarter. Research analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

Insider Buying and Selling at TC Energy

In other news, insider Dawn Elizabeth De Lima sold 25,342 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of C$88.73, for a total transaction of C$2,248,595.66. Following the completion of the sale, the insider owned 18,490 shares of the company’s stock, valued at approximately C$1,640,617.70. This trade represents a 57.82% decrease in their ownership of the stock. Insiders own 0.03% of the company’s stock.

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.