TC Energy (TSE:TRP) Stock Price Expected to Rise, CIBC Analyst Says

TC Energy (TSE:TRP) (NYSE:TRP) had its target price increased by equities researchers at CIBC from C$66.00 to C$67.00 in a report issued on Friday,BayStreet.CA reports. CIBC’s target price indicates a potential downside of 1.21% from the company’s previous close.

Other analysts have also recently issued reports about the company. Jefferies Financial Group increased their target price on TC Energy from C$57.00 to C$66.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Scotiabank increased their price objective on shares of TC Energy from C$68.00 to C$74.00 in a research report on Friday. JPMorgan Chase & Co. cut their price objective on shares of TC Energy from C$66.00 to C$60.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. ATB Capital reduced their target price on shares of TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating for the company in a research note on Thursday, October 3rd. Finally, Morgan Joseph raised TC Energy from an “underweight” rating to an “overweight” rating and lifted their price target for the company from C$62.00 to C$78.00 in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of C$66.15.

TC Energy Price Performance

Shares of TRP stock opened at C$67.82 on Friday. 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$69.61. The firm has a fifty day moving average of C$63.74 and a 200-day moving average of C$57.67. The firm has a market capitalization of C$70.53 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of C$4.08 billion during the quarter, compared to analysts’ expectations of C$3.90 billion. On average, equities research analysts forecast that TC Energy will post 3.5490515 earnings per share for the current year.

Insider Activity at TC Energy

In other TC Energy news, Director Rosemary K. Stevens sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of C$59.88, for a total transaction of C$71,856.00. Following the transaction, the director now owns 987 shares of the company’s stock, valued at C$59,101.56. The trade was a 0.00 % decrease in their position. In other TC Energy news, Director Rosemary K. Stevens sold 1,200 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of C$59.88, for a total transaction of C$71,856.00. Following the sale, the director now directly owns 987 shares of the company’s stock, valued at approximately C$59,101.56. This represents a 0.00 % decrease in their ownership of the stock. Also, Director Richard Prior sold 3,000 shares of TC Energy stock in a transaction dated Friday, August 16th. The shares were sold at an average price of C$44.00, for a total transaction of C$132,000.00. Over the last ninety days, insiders sold 76,114 shares of company stock valued at $4,704,641. Insiders own 0.03% of the company’s stock.

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.