Brokerages Set TC Energy Co. (TSE:TRP) Target Price at C$84.67

TC Energy Co. (TSE:TRP) (NYSE:TRP) has been given an average recommendation of “Hold” by the fourteen research firms that are currently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is C$87.46.

A number of research firms recently weighed in on TRP. Jefferies Financial Group upped their target price on shares of TC Energy from C$80.00 to C$88.00 in a research note on Tuesday, February 17th. Canadian Imperial Bank of Commerce upped their target price on shares of TC Energy from C$89.00 to C$94.00 in a research note on Monday. Barclays upped their target price on shares of TC Energy from C$88.00 to C$92.00 in a research note on Monday. Raymond James Financial upped their target price on shares of TC Energy from C$74.00 to C$78.00 in a research note on Monday, March 30th. Finally, TD upped their target price on shares of TC Energy from C$88.00 to C$90.00 and gave the stock a “hold” rating in a research note on Monday.

Key Stories Impacting TC Energy

Here are the key news stories impacting TC Energy this week:

• Positive Sentiment: Royal Bank of Canada raised its price target to C$95 and kept an “outperform” view, signalling stronger upside from the analyst community and supporting buying interest. RBC raises target
• Positive Sentiment: Canadian Imperial Bank of Commerce bumped its target to C$94, adding to the cluster of raises that suggest near-term upward pressure. CIBC raises target
• Positive Sentiment: Barclays lifted its target to C$92, another vote of confidence that is helping push sentiment positive among equity investors. Barclays raises target
• Positive Sentiment: National Bank Financial moved its target to C$92 and rated TRP “outperform,” contributing to the cluster of upgrades cited by market traders. National Bank raises target
• Neutral Sentiment: TD raised its target to C$90 but kept a “hold” rating, signalling only marginal upside and tempering enthusiasm from some institutional desks. TD raises target
• Neutral Sentiment: The Globe and Mail published pieces noting mixed analyst opinions on TC Energy — reinforcing that while several firms are bullish, others see limited near-term upside or want more clarity on growth/capex. Analysts’ opinions mixed
• Neutral Sentiment: Another Globe item and a Kalkine Media note examine valuation, yield and near-term catalysts — useful context for investors but not immediate drivers of a large re-rate. Analyst insights
• Negative Sentiment: ATB Cormark raised its target to C$87 but kept a “sector perform” view — its target implies ~3% downside from recent levels and highlights that some analysts see limited upside, which could restrain further gains. ATB Cormark raises target

Insider Buying and Selling at TC Energy

In related news, insider Dawn Elizabeth De Lima sold 25,342 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of C$88.73, for a total transaction of C$2,248,595.66. Following the sale, the insider directly owned 18,490 shares in the company, valued at approximately C$1,640,617.70. This represents a 57.82% decrease in their ownership of the stock. Insiders own 0.03% of the company’s stock.

TC Energy Stock Performance

TSE:TRP opened at C$90.33 on Wednesday. The company has a fifty day simple moving average of C$86.76 and a two-hundred day simple moving average of C$79.94. The company has a market cap of C$94.10 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 1.69 and a beta of 0.76. The company has a quick ratio of 0.40, a current ratio of 0.65 and a debt-to-equity ratio of 224.52. TC Energy has a 52 week low of C$63.34 and a 52 week high of C$91.50.

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

TC Energy Company Profile

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.