TC Energy (TSE:TRP) Given New C$84.00 Price Target at Royal Bank Of Canada

TC Energy (TSE:TRP) (NYSE:TRP) had its price target raised by equities researchers at Royal Bank Of Canada from C$74.00 to C$84.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Royal Bank Of Canada’s price target indicates a potential upside of 14.66% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Cibc World Mkts downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Jefferies Financial Group boosted their price target on shares of TC Energy from C$70.00 to C$73.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. US Capital Advisors downgraded shares of TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. National Bankshares lifted their price objective on shares of TC Energy from C$75.00 to C$76.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Finally, Barclays boosted their target price on shares of TC Energy from C$75.00 to C$80.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, TC Energy has an average rating of “Moderate Buy” and a consensus target price of C$76.58.

TC Energy Stock Performance

TRP traded up C$1.99 during midday trading on Friday, reaching C$73.26. The company had a trading volume of 4,727,939 shares, compared to its average volume of 6,052,168. The business has a 50-day moving average price of C$72.65 and a two-hundred day moving average price of C$69.50. TC Energy has a 12-month low of C$62.17 and a 12-month high of C$77.26. The stock has a market cap of C$76.16 billion, a PE ratio of 17.96, a P/E/G ratio of 1.69 and a beta of 0.83. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31.

Insider Buying and Selling at TC Energy

In other TC Energy news, Director Siim A. Vanaselja sold 40,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of C$70.07, for a total value of C$2,802,640.00. Following the transaction, the director directly owned 12,000 shares in the company, valued at C$840,792. This represents a 76.92% decrease in their position. Also, Director Francois Lionel Poirier sold 53,946 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director directly owned 113,550 shares in the company, valued at approximately C$8,004,173.57. The trade was a 32.21% decrease in their position. Corporate insiders own 0.03% of the company’s stock.

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.