TC Energy (TSE:TRP) Downgraded to “Neutral” at CIBC

TC Energy (TSE:TRP – Get Rating) (NYSE:TRP) was downgraded by CIBC from an “outperform” rating to a “neutral” rating in a note issued to investors on Friday, BayStreet.CA reports. They presently have a C$74.00 price target on the stock, down from their previous price target of C$76.00. CIBC’s target price suggests a potential upside of 8.39% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. US Capital Advisors restated a “hold” rating on shares of TC Energy in a report on Wednesday, June 1st. Morgan Stanley cut shares of TC Energy to a “sell” rating and set a C$78.00 target price on the stock. in a report on Tuesday, April 26th. Wolfe Research cut shares of TC Energy to a “sell” rating and set a C$57.00 target price on the stock. in a report on Monday, April 11th. Raymond James dropped their target price on shares of TC Energy from C$68.00 to C$67.00 and set a “market perform” rating on the stock in a report on Friday. Finally, CSFB dropped their price target on shares of TC Energy from C$80.00 to C$74.50 in a research note on Friday, July 22nd. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$69.73.

TC Energy Trading Down 1.6 %

TSE:TRP opened at C$68.27 on Friday. TC Energy has a 52 week low of C$57.71 and a 52 week high of C$74.44. The company has a quick ratio of 0.36, a current ratio of 0.61 and a debt-to-equity ratio of 163.99. The company’s 50 day moving average price is C$69.38 and its 200-day moving average price is C$69.16. The stock has a market cap of C$67.14 billion and a price-to-earnings ratio of 20.50.

TC Energy (TSE:TRP – Get Rating) (NYSE:TRP) last issued its earnings results on Friday, April 29th. The company reported C$1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.13 by C($0.01). The company had revenue of C$3.50 billion for the quarter, compared to the consensus estimate of C$3.55 billion. On average, equities research analysts forecast that TC Energy will post 4.4499998 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Hejdi A. Carlsen purchased 427 shares of TC Energy stock in a transaction on Monday, May 2nd. The shares were bought at an average cost of C$68.25 per share, for a total transaction of C$29,142.75. Following the acquisition, the director now owns 1,335 shares in the company, valued at approximately C$91,113.75. In other TC Energy news, Senior Officer Christine R. Johnston sold 793 shares of TC Energy stock in a transaction on Friday, May 6th. The shares were sold at an average price of C$71.10, for a total value of C$56,382.30. Also, Director Hejdi A. Carlsen purchased 427 shares of TC Energy stock in a transaction on Monday, May 2nd. The stock was bought at an average price of C$68.25 per share, for a total transaction of C$29,142.75. Following the completion of the acquisition, the director now owns 1,335 shares in the company, valued at approximately C$91,113.75. In the last three months, insiders have bought 1,973 shares of company stock worth $137,186 and have sold 57,480 shares worth $4,231,619.

TC Energy Company Profile

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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.