TC Energy (TSE:TRP) Issues Quarterly Earnings Results

TC Energy (TSE:TRP) (NYSE:TRP) posted its earnings results on Thursday. The company reported C$0.94 earnings per share for the quarter, FiscalAI reports. TC Energy had a net margin of 22.46% and a return on equity of 13.07%. The firm had revenue of C$4.03 billion during the quarter.

TC Energy Stock Down 0.2%

Shares of TSE TRP traded down C$0.20 during mid-day trading on Friday, reaching C$87.52. The company had a trading volume of 2,642,341 shares, compared to its average volume of 4,985,200. The firm has a 50 day simple moving average of C$86.15 and a two-hundred day simple moving average of C$88.71. The stock has a market cap of C$91.18 billion, a P/E ratio of 26.20, a PEG ratio of 1.69 and a beta of 0.82. TC Energy has a 52-week low of C$71.30 and a 52-week high of C$100.18. The company has a current ratio of 0.61, a quick ratio of 0.40 and a debt-to-equity ratio of 229.63.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TRP shares. The Goldman Sachs Group raised shares of TC Energy from a “hold” rating to a “buy” rating and set a C$71.00 target price for the company in a research note on Wednesday, September 30th. Scotiabank set a C$105.00 price objective on shares of TC Energy and gave the stock a “sector outperform” rating in a research report on Tuesday, September 22nd. TD upgraded TC Energy from a “hold” rating to a “buy” rating and set a C$102.00 target price on the stock in a research report on Tuesday, September 15th. Barclays upped their price objective on shares of TC Energy from C$100.00 to C$102.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Finally, National Bank Financial raised their target price on TC Energy from C$102.00 to C$103.00 and gave the company an “outperform” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$96.29.

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.