TC Energy (TSE:TRP) Given New C$74.00 Price Target at Royal Bank of Canada

TC Energy (TSE:TRP) (NYSE:TRP) had its target price lifted by Royal Bank of Canada from C$71.00 to C$74.00 in a research note issued on Tuesday,BayStreet.CA reports. Royal Bank of Canada’s price target would suggest a potential upside of 11.80% from the company’s current price.

Several other research firms have also issued reports on TRP. CIBC upped their target price on shares of TC Energy from C$68.00 to C$70.00 and gave the stock a “neutral” rating in a research note on Thursday, January 9th. Barclays upped their target price on shares of TC Energy from C$67.00 to C$74.00 in a research note on Wednesday, November 20th. JPMorgan Chase & Co. upped their target price on shares of TC Energy from C$70.00 to C$79.00 in a research note on Monday, November 18th. National Bankshares increased their price target on shares of TC Energy from C$70.00 to C$71.00 in a research report on Wednesday, November 20th. Finally, BMO Capital Markets increased their price target on shares of TC Energy from C$70.00 to C$73.00 in a research report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$73.25.

TC Energy Stock Up 1.6 %

TRP traded up C$1.05 during trading on Tuesday, hitting C$66.19. 1,371,884 shares of the company’s stock were exchanged, compared to its average volume of 4,462,274. TC Energy has a fifty-two week low of C$43.83 and a fifty-two week high of C$70.32. The company has a quick ratio of 0.40, a current ratio of 1.31 and a debt-to-equity ratio of 237.62. The stock has a market cap of C$68.26 billion, a P/E ratio of 13.16, a PEG ratio of 1.69 and a beta of 0.82. The business’s 50 day moving average is C$66.87 and its two-hundred day moving average is C$64.86.

Insider Transactions at TC Energy

In other news, Director Francois Lionel Poirier acquired 4,800 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of C$65.05 per share, for a total transaction of C$312,239.52. Also, Director David Brast sold 6,743 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$69.01, for a total transaction of C$465,353.98. Insiders sold 397,921 shares of company stock worth $26,679,402 over the last quarter. Corporate insiders own 0.03% of the company’s stock.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.