TC Energy (TSE:TRP) Price Target Raised to C$74.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective lifted by Royal Bank of Canada from C$71.00 to C$74.00 in a research report sent to investors on Tuesday morning,BayStreet.CA reports.

Several other brokerages have also recently weighed in on TRP. TD Securities set a C$73.00 price target on shares of TC Energy and gave the stock a “buy” rating in a research note on Wednesday, January 15th. CIBC lifted their target price on TC Energy from C$68.00 to C$70.00 and gave the company a “neutral” rating in a research report on Thursday, January 9th. Wells Fargo & Company boosted their price target on TC Energy from C$74.00 to C$76.00 in a report on Wednesday, November 20th. Raymond James raised TC Energy to a “hold” rating in a research note on Thursday, November 21st. Finally, Morgan Joseph upgraded TC Energy from an “underweight” rating to an “overweight” rating and boosted their price objective for the company from C$62.00 to C$78.00 in a research note on Friday, October 25th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, TC Energy has an average rating of “Moderate Buy” and an average price target of C$73.25.

TC Energy Price Performance

Shares of TSE:TRP opened at C$64.48 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 1.31 and a debt-to-equity ratio of 237.62. The stock has a market capitalization of C$66.49 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The firm’s 50 day moving average price is C$66.77 and its 200-day moving average price is C$64.91. TC Energy has a twelve month low of C$43.83 and a twelve month high of C$70.32.

Insiders Place Their Bets

In other TC Energy news, Director Alexander (Alex) Oehler bought 6,540 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of C$66.05 per share, with a total value of C$431,947.64. Also, Senior Officer Michele L. Waters purchased 1,525 shares of TC Energy stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average price of C$64.68 per share, for a total transaction of C$98,630.90. In the last 90 days, insiders have purchased 12,865 shares of company stock worth $842,818 and have sold 272,935 shares worth $18,128,828. Corporate insiders own 0.03% of the company’s stock.

About TC Energy

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.