Royal Bank Of Canada Forecasts Strong Price Appreciation for TC Energy (NYSE:TRP) Stock

TC Energy (NYSE:TRP) (TSE:TRP) had its price target lifted by equities research analysts at Royal Bank Of Canada from $92.00 to $95.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the pipeline company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 44.22% from the stock’s current price.

A number of other research analysts also recently issued reports on TRP. Morgan Stanley reiterated an “overweight” rating on shares of TC Energy in a research note on Wednesday, January 28th. The Goldman Sachs Group upgraded shares of TC Energy from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $53.00 to $62.00 in a research note on Monday, April 20th. BMO Capital Markets reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, February 17th. Citigroup reiterated a “neutral” rating on shares of TC Energy in a research note on Thursday, February 19th. Finally, Weiss Ratings upgraded shares of TC Energy from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and an average price target of $78.50.

TC Energy Stock Down 1.0%

Shares of TRP stock traded down $0.70 during trading on Monday, reaching $65.87. The company’s stock had a trading volume of 631,127 shares, compared to its average volume of 2,592,578. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.63 and a quick ratio of 0.56. The company has a market capitalization of $68.62 billion, a price-to-earnings ratio of 28.59 and a beta of 0.67. The stock’s 50-day moving average price is $63.11 and its 200 day moving average price is $57.83. TC Energy has a 1-year low of $46.29 and a 1-year high of $67.31.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.77%. During the same quarter in the previous year, the business posted $0.95 earnings per share. On average, research analysts anticipate that TC Energy will post 2.76 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TRP. AQR Capital Management LLC boosted its holdings in shares of TC Energy by 54.0% in the 1st quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock valued at $538,000 after buying an additional 3,892 shares in the last quarter. Focus Partners Wealth boosted its holdings in shares of TC Energy by 46.1% in the 1st quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock valued at $588,000 after buying an additional 3,929 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of TC Energy by 200.7% in the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock valued at $1,269,000 after buying an additional 17,939 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of TC Energy by 50.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,706 shares of the pipeline company’s stock valued at $181,000 after buying an additional 1,243 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its holdings in shares of TC Energy by 9.9% in the 2nd quarter. Guggenheim Capital LLC now owns 16,758 shares of the pipeline company’s stock valued at $818,000 after buying an additional 1,511 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.