TC Energy (TSE:TRP) Price Target Raised to C$70.00 at CIBC

TC Energy (TSE:TRP) (NYSE:TRP) had its price target upped by analysts at CIBC from C$68.00 to C$70.00 in a report released on Thursday,BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. CIBC’s price target indicates a potential upside of 1.76% from the company’s current price.

Several other equities analysts have also commented on the company. Veritas upgraded TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. BMO Capital Markets increased their target price on TC Energy from C$70.00 to C$73.00 in a research report on Friday, November 29th. Barclays boosted their price target on shares of TC Energy from C$67.00 to C$74.00 in a report on Wednesday, November 20th. Wells Fargo & Company increased their price objective on shares of TC Energy from C$74.00 to C$76.00 in a report on Wednesday, November 20th. Finally, Jefferies Financial Group boosted their target price on shares of TC Energy from C$64.00 to C$65.00 in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$69.92.

TC Energy Trading Up 0.2 %

Shares of TRP stock traded up C$0.11 during mid-day trading on Thursday, reaching C$68.79. The company’s stock had a trading volume of 353,172 shares, compared to its average volume of 5,535,331. The company’s 50 day simple moving average is C$67.43 and its 200-day simple moving average is C$62.18. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. TC Energy has a 12-month low of C$43.83 and a 12-month high of C$70.32. The firm has a market capitalization of C$71.54 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

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

Insider Activity at TC Energy

In related news, Senior Officer Stanley G. Chapman Iii sold 267,435 shares of TC Energy stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of C$66.51, for a total value of C$17,785,898.39. Also, Director Lindsay Mackay sold 3,520 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of C$70.00, for a total value of C$246,400.00. Over the last quarter, insiders sold 420,911 shares of company stock worth $28,259,105. 0.03% of the stock is owned by insiders.

TC Energy Company Profile

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.