TC Energy (TSE:TRP) Upgraded to “Buy” at The Goldman Sachs Group

TC Energy (TSE:TRP) (NYSE:TRP) was upgraded by The Goldman Sachs Group from a “hold” rating to a “buy” rating in a report released on Wednesday, MarketBeat reports. The firm currently has a C$71.00 price target on the stock. The Goldman Sachs Group’s price objective indicates a potential downside of 14.51% from the company’s current price.

Other research analysts have also issued research reports about the company. ATB Cormark Capital Markets increased their target price on TC Energy from C$98.00 to C$100.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Royal Bank Of Canada raised TC Energy to a “moderate buy” rating in a research note on Friday, September 11th. Barclays increased their price objective on TC Energy from C$100.00 to C$102.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Scotiabank set a C$105.00 price objective on TC Energy and gave the company a “sector outperform” rating in a research report on Tuesday, September 22nd. Finally, Jefferies Financial Group upgraded shares of TC Energy from a “hold” rating to a “buy” rating and boosted their target price for the company from C$100.00 to C$102.00 in a report on Tuesday, September 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$96.29.

TC Energy Price Performance

TRP stock opened at C$83.05 on Wednesday. TC Energy has a 1 year low of C$69.41 and a 1 year high of C$100.18. The company has a market cap of C$86.52 billion, a P/E ratio of 24.87, a PEG ratio of 1.69 and a beta of 0.68. The firm has a 50-day moving average of C$87.69 and a 200 day moving average of C$90.54. The company has a debt-to-equity ratio of 229.63, a current ratio of 0.61 and a quick ratio of 0.40.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data on Thursday, July 30th. The company reported C$0.94 EPS for the quarter. The business had revenue of C$3.96 billion during the quarter. TC Energy had a net margin of 22.46% and a return on equity of 13.07%. On average, sell-side analysts forecast that TC Energy will post 3.5490515 EPS for the current year.

About TC Energy

We are a leader in North American energy infrastructure, spanning Canada, the U.S. and Mexico. For over 75 years, we have proudly connected the world to the energy it needs. Every day, we move more than 30 per cent of the natural gas used across the continent and connect LNG exports to global markets-powering communities and industries. Complemented by strategic ownership and low-risk investments in power generation, our infrastructure delivers affordable, reliable and sustainable energy across North America.