Raymond James Financial Forecasts Strong Price Appreciation for TC Energy (TSE:TRP) Stock

TC Energy (TSE:TRP) (NYSE:TRP) had its target price raised by equities research analysts at Raymond James Financial from C$71.00 to C$74.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has a “market perform” rating on the stock. Raymond James Financial’s price objective points to a potential downside of 12.81% from the company’s current price.

Several other analysts have also recently weighed in on the stock. TD Securities dropped their price objective on shares of TC Energy from C$81.00 to C$80.00 and set a “buy” rating for the company in a research note on Friday, November 7th. National Bank Financial raised their price objective on TC Energy from C$76.00 to C$85.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Scotiabank upped their target price on TC Energy from C$81.00 to C$86.00 in a research note on Friday, January 16th. Royal Bank Of Canada increased their price objective on shares of TC Energy from C$74.00 to C$84.00 in a research note on Friday, November 7th. Finally, Canadian Imperial Bank of Commerce raised their price objective on shares of TC Energy from C$78.00 to C$81.00 in a report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of C$84.00.

TC Energy Trading Down 1.9%

TSE TRP traded down C$1.65 on Tuesday, reaching C$84.87. The company had a trading volume of 2,107,940 shares, compared to its average volume of 4,875,110. TC Energy has a 52 week low of C$62.17 and a 52 week high of C$86.97. The stock’s 50 day moving average is C$77.33 and its 200-day moving average is C$74.36. 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$88.35 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 1.69 and a beta of 0.86.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Friday, February 13th. The company reported C$0.98 earnings per share for the quarter. TC Energy had a net margin of 32.39% and a return on equity of 17.25%. The business had revenue of C$4.17 billion for the quarter. Equities analysts predict that TC Energy will post 3.5490515 earnings per share for the current 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.