TC Energy (TSE:TRP) Stock Rating Raised to Strong-Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of TC Energy (TSE:TRP) (NYSE:TRP) from a hold rating to a strong-buy rating in a research note published on Wednesday morning,Zacks reports.

Other research analysts have also issued research reports about the stock. Barclays lifted their price target on shares of TC Energy from C$100.00 to C$102.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. TD Securities raised TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 14th. Jefferies Financial Group raised TC Energy from a “hold” rating to a “buy” rating and upped their target price for the company from C$100.00 to C$102.00 in a report on Tuesday, September 1st. Scotiabank set a C$105.00 price target on TC Energy and gave the company a “sector outperform” rating in a research report on Tuesday, September 22nd. Finally, US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$95.64.

TC Energy Stock Performance

TRP opened at C$83.41 on Wednesday. The company has a market capitalization of C$86.89 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 1.69 and a beta of 0.68. The company has a debt-to-equity ratio of 229.63, a current ratio of 0.61 and a quick ratio of 0.40. TC Energy has a 1-year low of C$69.41 and a 1-year high of C$100.18. The business has a 50 day moving average price of C$87.69 and a two-hundred day moving average price of C$90.54.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings results on Thursday, July 30th. The company reported C$0.94 earnings per share (EPS) for the quarter. The company had revenue of C$3.96 billion for the quarter. TC Energy had a return on equity of 13.07% and a net margin of 22.46%. Research analysts predict that TC Energy will post 3.5490515 EPS for the current fiscal year.

About TC Energy

We are a leader in North American energy infrastructure, spanning Canada, the U.S. and Mexico. For over 75 years, we have proudly connected the world to the energy it needs. Every day, we move more than 30 per cent of the natural gas used across the continent and connect LNG exports to global markets-powering communities and industries. Complemented by strategic ownership and low-risk investments in power generation, our infrastructure delivers affordable, reliable and sustainable energy across North America.