CIBC Raises TC Energy (TSE:TRP) Price Target to C$76.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective upped by stock analysts at CIBC from C$71.00 to C$76.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price target points to a potential upside of 8.05% from the stock’s current price.

Several other analysts also recently commented on TRP. Royal Bank of Canada increased their target price on TC Energy from C$71.00 to C$74.00 in a research note on Tuesday, February 18th. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Citigroup raised shares of TC Energy to a “hold” rating in a report on Friday, April 4th. Finally, Jefferies Financial Group boosted their price objective on shares of TC Energy from C$65.00 to C$71.00 in a report on Thursday, January 30th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$74.17.

TC Energy Stock Up 1.5 %

TSE:TRP opened at C$70.34 on Friday. The firm has a 50-day simple moving average of C$67.37 and a two-hundred day simple moving average of C$67.00. The firm has a market cap of C$72.54 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.69 and a beta of 0.82. TC Energy has a fifty-two week low of C$46.07 and a fifty-two week high of C$70.97. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31.

Insider Buying and Selling

In other news, Director Francois Lionel Poirier bought 4,800 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of C$65.05 per share, for a total transaction of C$312,239.52. Also, Director Danika Yeager purchased 1,817 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was acquired at an average price of C$69.23 per share, with a total value of C$125,784.97. In the last ninety days, insiders bought 13,287 shares of company stock valued at $842,568 and sold 145,977 shares valued at $9,810,511. 0.03% of the stock is currently owned by 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.