CIBC Boosts TC Energy (TSE:TRP) Price Target to C$68.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective raised by CIBC from C$67.00 to C$68.00 in a note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s price objective would suggest a potential downside of 3.05% from the company’s current price.

A number of other research analysts have also commented on TRP. National Bankshares lifted their price objective on shares of TC Energy from C$70.00 to C$71.00 in a research note on Wednesday. Barclays upped their price target on shares of TC Energy from C$66.00 to C$67.00 in a research report on Monday, October 21st. Morgan Joseph upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating and upped their target price for the company from C$62.00 to C$78.00 in a research note on Friday, October 25th. Jefferies Financial Group raised their price objective on shares of TC Energy from C$64.00 to C$65.00 in a report on Wednesday. Finally, Scotiabank lifted their price target on shares of TC Energy from C$74.00 to C$75.00 in a report on Wednesday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$69.54.

TC Energy Trading Up 2.0 %

Shares of TC Energy stock opened at C$70.14 on Wednesday. The firm has a market capitalization of C$72.95 billion, a PE ratio of 21.19, a P/E/G ratio of 1.69 and a beta of 0.82. TC Energy has a twelve month low of C$43.83 and a twelve month high of C$70.24. The firm’s 50-day moving average price is C$64.86 and its 200 day moving average price is C$58.90. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.97 by C$0.06. The business had revenue of C$4.08 billion during the quarter, compared to the consensus estimate of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. On average, sell-side analysts predict that TC Energy will post 3.5490515 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Senior Officer Francois Lionel Poirier sold 118,243 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of C$68.38, for a total transaction of C$8,085,219.85. Also, Senior Officer Patrick M. Keys sold 17,127 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of C$62.71, for a total value of C$1,074,049.58. Insiders have sold a total of 214,476 shares of company stock valued at $14,299,929 over the last ninety days. 0.03% of the stock is owned by company insiders.

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.