TC Energy (NYSE:TRP) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

TC Energy (NYSE:TRP) (TSE:TRP) had its price objective increased by stock analysts at BMO Capital Markets from $66.00 to $70.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the pipeline company’s stock. BMO Capital Markets’ price target points to a potential upside of 39.39% from the stock’s previous close.

TRP has been the topic of a number of other reports. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. The Goldman Sachs Group raised their price target on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Veritas upgraded TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, StockNews.com assumed coverage on TC Energy in a research report on Monday. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, TC Energy presently has an average rating of “Hold” and a consensus price target of $55.67.

TC Energy Stock Up 2.1 %

Shares of NYSE:TRP opened at $50.22 on Wednesday. TC Energy has a 52 week low of $31.83 and a 52 week high of $50.29. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The company’s fifty day moving average is $47.16 and its 200-day moving average is $43.10. The company has a market capitalization of $52.12 billion, a PE ratio of 13.91, a P/E/G ratio of 4.19 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. Equities research analysts predict that TC Energy will post 2.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TC Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Fortitude Family Office LLC bought a new stake in shares of TC Energy in the 3rd quarter worth $28,000. Blue Trust Inc. boosted its stake in shares of TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 267 shares during the period. EdgeRock Capital LLC bought a new position in TC Energy during the second quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. raised its position in TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 429 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of TC Energy in the third quarter worth approximately $39,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

About TC Energy

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.