Scotiabank Forecasts Strong Price Appreciation for TC Energy (TSE:TRP) Stock

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective lifted by analysts at Scotiabank from C$86.00 to C$93.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 9.58% from the stock’s current price.

Several other equities analysts have also commented on the stock. Royal Bank Of Canada increased their price target on shares of TC Energy from C$84.00 to C$92.00 and gave the company an “outperform” rating in a research note on Tuesday. Raymond James Financial upped their target price on TC Energy from C$71.00 to C$74.00 and gave the company a “market perform” rating in a research report on Tuesday. Canadian Imperial Bank of Commerce cut TC Energy from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from C$81.00 to C$85.00 in a research note on Tuesday. National Bank Financial raised their target price on shares of TC Energy from C$85.00 to C$86.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, TD Securities downgraded shares of TC Energy from a “buy” rating to a “hold” rating and upped their price target for the company from C$84.00 to C$88.00 in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, TC Energy currently has a consensus rating of “Hold” and a consensus target price of C$84.00.

TC Energy Trading Down 1.9%

Shares of TRP stock traded down C$1.65 during trading hours on Tuesday, hitting 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 fifty-two week low of C$62.17 and a fifty-two week high of C$86.97. The company’s fifty day moving average is C$77.33 and its 200 day moving average is C$74.36. The stock has a market capitalization of C$88.35 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.69 and a beta of 0.86. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40.

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