TC Energy (TSE:TRP) Stock Rating Upgraded by CIBC

TC Energy (TSE:TRPGet Rating) (NYSE:TRP) was upgraded by equities researchers at CIBC from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage presently has a C$77.00 price objective on the stock, up from their previous price objective of C$73.00. CIBC’s target price points to a potential upside of 7.62% from the stock’s previous close.

A number of other brokerages have also recently weighed in on TRP. Industrial Alliance Securities raised shares of TC Energy to a “buy” rating and set a C$74.00 price objective for the company in a research note on Monday, April 4th. Morgan Stanley cut shares of TC Energy to a “sell” rating and set a C$78.00 price objective for the company. in a research note on Tuesday, April 26th. Wolfe Research cut shares of TC Energy to a “sell” rating and set a C$57.00 price objective for the company. in a research note on Monday, April 11th. The Goldman Sachs Group downgraded TC Energy from a “neutral” rating to a “sell” rating in a report on Thursday, January 13th. Finally, Scotiabank boosted their price target on TC Energy from C$72.00 to C$78.00 in a report on Wednesday, April 13th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$70.70.

TRP stock opened at C$71.55 on Thursday. The firm has a 50 day moving average of C$71.10 and a 200-day moving average of C$65.87. TC Energy has a 12-month low of C$57.71 and a 12-month high of C$74.39. The company has a current ratio of 0.61, a quick ratio of 0.36 and a debt-to-equity ratio of 163.99. The company has a market cap of C$70.33 billion and a price-to-earnings ratio of 21.78.

TC Energy (TSE:TRPGet Rating) (NYSE:TRP) last posted its quarterly earnings results on Tuesday, February 15th. The company reported C$1.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of C$1.06. The company had revenue of C$3.58 billion for the quarter. Sell-side analysts forecast that TC Energy will post 4.4500001 earnings per share for the current fiscal year.

In related news, Senior Officer Joel E. Hunter sold 20,282 shares of the stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of C$66.47, for a total value of C$1,348,158.74. Following the completion of the sale, the insider now directly owns 8,660 shares in the company, valued at approximately C$575,636.26. Also, Director Richard Prior purchased 500 shares of the stock in a transaction that occurred on Thursday, May 5th. The stock was bought at an average price of C$70.00 per share, with a total value of C$35,000.00. Following the completion of the acquisition, the director now owns 11,375 shares in the company, valued at approximately C$796,250. Over the last 90 days, insiders have bought 7,338 shares of company stock valued at $507,515 and have sold 129,624 shares valued at $8,952,248.

About TC Energy (Get Rating)

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 Storage. The company builds and operates 93,300 km network 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.

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