Royal Bank Of Canada Raises TC Energy (TSE:TRP) Price Target to C$84.00

TC Energy (TSE:TRP) (NYSE:TRP) had its target price upped by equities research analysts at Royal Bank Of Canada from C$74.00 to C$84.00 in a research note issued on Friday,BayStreet.CA reports. Royal Bank Of Canada’s target price would suggest a potential upside of 14.66% from the stock’s previous close.

A number of other equities research analysts have also recently commented on TRP. Jefferies Financial Group raised their price target on shares of TC Energy from C$70.00 to C$73.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. CIBC cut shares of TC Energy from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from C$76.00 to C$77.00 in a research report on Thursday, October 9th. Citigroup set a C$75.00 target price on TC Energy and gave the company a “neutral” rating in a research report on Friday, September 5th. US Capital Advisors lowered TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Finally, Scotiabank boosted their price objective on TC Energy from C$77.00 to C$80.00 and gave the company an “outperform” rating in a report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of C$76.58.

TC Energy Trading Up 2.8%

Shares of TC Energy stock traded up C$1.99 on Friday, hitting C$73.26. 4,727,939 shares of the company’s stock traded hands, compared to its average volume of 6,052,168. The company has a market capitalization of C$76.16 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 1.69 and a beta of 0.83. TC Energy has a one year low of C$62.17 and a one year high of C$77.26. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40. The company has a fifty day moving average of C$72.65 and a two-hundred day moving average of C$69.50.

Insiders Place Their Bets

In related news, Director Francois Lionel Poirier sold 53,946 shares of the stock in a transaction on Friday, August 15th. The stock was 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 of the company’s stock, valued at approximately C$8,004,173.57. This represents a 32.21% decrease in their position. Also, Director Siim A. Vanaselja sold 40,000 shares of TC Energy stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of C$70.07, for a total transaction 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 ownership of the stock. Corporate insiders own 0.03% of the company’s stock.

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.