TC Energy (TSE:TRP) Lowered to “Neutral” Rating by Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce downgraded shares of TC Energy (TSE:TRP) (NYSE:TRP) from an outperform rating to a neutral rating in a research note issued to investors on Tuesday morning,BayStreet.CA reports. They currently have C$85.00 price objective on the stock, up from their previous price objective of C$81.00.

TRP has been the topic of several other reports. Raymond James Financial raised their price objective on shares of TC Energy from C$71.00 to C$74.00 and gave the stock a “market perform” rating in a research report on Tuesday. Jefferies Financial Group raised their price target on TC Energy from C$74.00 to C$80.00 in a report on Wednesday, February 4th. BMO Capital Markets raised TC Energy from a “hold” rating to an “outperform” rating and upped their price objective for the company from C$73.00 to C$83.00 in a research note on Friday, November 7th. Royal Bank Of Canada lifted their target price on TC Energy from C$84.00 to C$92.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Scotiabank upped their price target on TC Energy from C$81.00 to C$86.00 in a research note on Friday, January 16th. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, TC Energy presently has a consensus rating of “Hold” and a consensus price target of C$84.00.

TC Energy Trading Down 1.9%

TSE:TRP opened at C$84.91 on Tuesday. The company has a market capitalization of C$88.39 billion, a PE ratio of 25.97, a P/E/G ratio of 1.69 and a beta of 0.86. TC Energy has a 52-week low of C$62.17 and a 52-week high of C$86.97. The stock’s 50 day moving average price is C$77.53 and its 200 day moving average price is C$74.49. The company has a quick ratio of 0.40, a current ratio of 1.31 and a debt-to-equity ratio of 237.62.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data on Friday, February 13th. The company reported C$0.98 earnings per share for the quarter. The company had revenue of C$4.17 billion during the quarter. TC Energy had a return on equity of 17.25% and a net margin of 32.39%. On average, research analysts anticipate that TC Energy will post 3.5490515 EPS for the current year.

More TC Energy News

Here are the key news stories impacting TC Energy this week:

• Positive Sentiment: Scotiabank raised its price target to C$93.00 and kept an “outperform” rating, implying meaningful upside versus the current level. This is a bullish signal from a large Canadian bank. Scotiabank raise
• Positive Sentiment: Royal Bank of Canada lifted its target to C$92.00 and retained an “outperform” view, supporting the case for further upside. RBC raise
• Positive Sentiment: Jefferies raised its target to C$88.00 (from C$80.00), a modest upside signal that reinforces bullishness from another sell‑side shop. Jefferies raise
• Neutral Sentiment: National Bank Financial nudged its target to C$86.00 and kept a “sector perform” rating — effectively neutral given the very small implied upside. National Bank update
• Negative Sentiment: Raymond James raised its target only to C$74.00 and maintained a “market perform” rating — the target implies a notable downside versus the current share level and is a clear bearish datapoint. Raymond James raise
• Negative Sentiment: ATB Cormark lifted its target to C$80.00 but kept a “sector perform” view; the target still implies downside and is a headwind for sentiment. ATB Cormark update
• Negative Sentiment: Canadian Imperial Bank of Commerce downgraded TRP from “outperform” to “neutral” (PT C$85.00). Even though the target rose slightly, the rating cut is a negative signal for momentum. CIBC downgrade
• Negative Sentiment: TD Securities downgraded the stock from “buy” to “hold” (PT C$88.00). Rating downgrades tend to pressure sentiment even when targets tick higher. TD downgrade

TC Energy Company Profile

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.