Royal Bank of Canada Issues Positive Forecast for TC Energy (TSE:TRP) Stock Price

TC Energy (TSE:TRP) (NYSE:TRP) had its price target raised by Royal Bank of Canada from C$71.00 to C$74.00 in a report released on Tuesday,BayStreet.CA reports.

TRP has been the subject of several other reports. Raymond James upgraded TC Energy to a “hold” rating in a report on Thursday, November 21st. Scotiabank boosted their price target on shares of TC Energy from C$74.00 to C$75.00 in a report on Wednesday, November 20th. TD Securities set a C$73.00 price target on shares of TC Energy and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Jefferies Financial Group lifted their price objective on shares of TC Energy from C$65.00 to C$71.00 in a report on Thursday, January 30th. Finally, ATB Capital upped their target price on TC Energy from C$64.00 to C$65.00 in a report on Friday, November 8th. Six analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$73.25.

TC Energy Stock Performance

Shares of TSE:TRP opened at C$64.48 on Tuesday. The firm’s 50 day simple moving average is C$66.77 and its 200-day simple moving average is C$64.91. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. TC Energy has a one year low of C$43.83 and a one year high of C$70.32. The firm has a market cap of C$66.49 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

Insider Transactions at TC Energy

In other TC Energy news, Senior Officer Stanley G. Chapman Iii sold 267,435 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of C$66.51, for a total transaction of C$17,785,898.39. Also, Director Alexander (Alex) Oehler acquired 6,540 shares of TC Energy stock in a transaction dated Monday, December 30th. The stock was purchased at an average price of C$66.05 per share, with a total value of C$431,947.64. Over the last 90 days, insiders have acquired 12,865 shares of company stock worth $842,818 and have sold 272,935 shares worth $18,128,828. Insiders own 0.03% of the company’s stock.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.