TC Energy (TSE:TRP) Given New C$92.00 Price Target at ATB Cormark Capital Markets

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective hoisted by equities research analysts at ATB Cormark Capital Markets from C$87.00 to C$92.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. ATB Cormark Capital Markets’ target price suggests a potential downside of 5.99% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Morgan Stanley cut TC Energy from an “overweight” rating to an “equal weight” rating and set a C$103.00 target price on the stock. in a research note on Wednesday, June 10th. Barclays raised their target price on shares of TC Energy from C$88.00 to C$92.00 in a research report on Monday, May 4th. Citigroup boosted their price target on shares of TC Energy from C$86.00 to C$95.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 31st. Royal Bank Of Canada increased their price objective on shares of TC Energy from C$92.00 to C$95.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Finally, TD set a C$98.00 price objective on TC Energy and gave the company a “hold” rating in a report on Thursday, June 25th. Six investment analysts have rated the stock with a Buy rating and nine have issued 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$90.21.

TC Energy Stock Up 0.2%

Shares of TC Energy stock traded up C$0.18 on Wednesday, hitting C$97.86. The company had a trading volume of 1,195,703 shares, compared to its average volume of 5,255,053. The stock has a 50-day moving average of C$94.26 and a 200-day moving average of C$86.58. The company has a debt-to-equity ratio of 224.52, a current ratio of 0.65 and a quick ratio of 0.40. TC Energy has a twelve month low of C$63.34 and a twelve month high of C$100.18. The firm has a market capitalization of C$101.95 billion, a P/E ratio of 30.68, a P/E/G ratio of 1.69 and a beta of 0.69.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data on Friday, May 1st. The company reported C$0.99 EPS for the quarter. The business had revenue of C$3.86 billion for the quarter. TC Energy had a net margin of 21.83% and a return on equity of 12.53%. Research analysts predict that TC Energy will post 3.5490515 earnings per share for the current year.

Insider Transactions at TC Energy

In other news, insider Yvonne Frame-Zawalykut sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of C$98.39, for a total transaction of C$147,585.00. Also, Director Trevor Ebl sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of C$93.45, for a total transaction of C$467,250.00. Company 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.