TC Energy (NYSE:TRP) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

TC Energy (NYSE:TRP) (TSE:TRP) had its price objective boosted by equities research analysts at Royal Bank Of Canada from $74.00 to $84.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the pipeline company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 61.00% from the stock’s previous close.

Other analysts also recently issued reports about the company. Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. TD Securities restated a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. Wall Street Zen downgraded shares of TC Energy from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. BMO Capital Markets raised shares of TC Energy from a “market perform” rating to an “outperform” rating in a research report on Friday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

TC Energy Trading Up 3.4%

TRP stock traded up $1.73 during midday trading on Friday, hitting $52.18. The stock had a trading volume of 3,431,817 shares, compared to its average volume of 2,282,675. TC Energy has a 12-month low of $43.51 and a 12-month high of $55.37. The firm has a market cap of $54.29 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 4.82 and a beta of 0.73. The company’s 50-day moving average price is $52.17 and its 200 day moving average price is $50.27. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $2.63 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period in the prior year, the firm posted $1.03 EPS. On average, equities research analysts predict that TC Energy will post 2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Westside Investment Management Inc. boosted its holdings in shares of TC Energy by 100.0% during the third quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 297 shares during the period. Hilltop National Bank acquired a new position in TC Energy during the 2nd quarter valued at about $32,000. Smartleaf Asset Management LLC grew its position in TC Energy by 237.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock worth $43,000 after purchasing an additional 565 shares during the last quarter. Harbor Asset Planning Inc. bought a new position in TC Energy in the 2nd quarter worth about $43,000. Finally, Sagard Holdings Management Inc. bought a new stake in shares of TC Energy during the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 83.13% 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.