TC Energy (TSE:TRP) Price Target Raised to C$84.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target increased by Royal Bank Of Canada from C$74.00 to C$84.00 in a research report sent to investors on Friday,BayStreet.CA reports.

Several other research analysts have also issued reports on TRP. US Capital Advisors lowered TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. TD Securities cut their price objective on shares of TC Energy from C$81.00 to C$80.00 and set a “buy” rating on the stock in a report on Friday. Scotiabank lifted their target price on shares of TC Energy from C$77.00 to C$80.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Barclays boosted their target price on shares of TC Energy from C$75.00 to C$80.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Finally, Citigroup set a C$75.00 price target on shares of TC Energy and gave the stock a “neutral” rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$77.64.

TC Energy Stock Performance

Shares of TRP stock opened at C$73.26 on Friday. TC Energy has a 12-month low of C$62.17 and a 12-month high of C$77.26. The business’s fifty day simple moving average is C$72.69 and its 200-day simple moving average is C$69.57. The company has a current ratio of 1.31, a quick ratio of 0.40 and a debt-to-equity ratio of 237.62. The company has a market cap of C$76.26 billion, a PE ratio of 17.96, a PEG ratio of 1.69 and a beta of 0.83.

Insider Activity at TC Energy

In related news, Director Francois Lionel Poirier sold 53,946 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of C$70.49, for a total value of C$3,802,669.72. Following the transaction, the director owned 113,550 shares in the company, valued at approximately C$8,004,173.57. This represents a 32.21% decrease in their position. Also, Director Siim A. Vanaselja sold 40,000 shares of TC Energy stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of C$70.07, for a total transaction of C$2,802,640.00. Following the sale, the director owned 12,000 shares of the company’s stock, valued at approximately C$840,792. The trade was a 76.92% decrease in their ownership of the stock. 0.03% of the stock is currently owned by corporate insiders.

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.