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

TC Energy (TSE:TRP) (NYSE:TRP) had its target price boosted by CIBC from C$67.00 to C$68.00 in a research note issued to investors on Wednesday,BayStreet.CA reports.

A number of other analysts also recently commented on the company. ATB Capital upped their price objective on TC Energy from C$64.00 to C$65.00 in a report on Friday, November 8th. BMO Capital Markets raised their price objective on TC Energy from C$55.00 to C$66.00 in a report on Friday, November 8th. Barclays boosted their target price on TC Energy from C$66.00 to C$67.00 in a report on Monday, October 21st. Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, Scotiabank lifted their price target on shares of TC Energy from C$74.00 to C$75.00 in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, TC Energy currently has a consensus rating of “Hold” and a consensus price target of C$69.54.

TC Energy Stock Down 0.7 %

TRP opened at C$69.65 on Wednesday. The stock has a market capitalization of C$72.44 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. TC Energy has a 12 month low of C$43.83 and a 12 month high of C$70.32. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. The business has a 50-day moving average of C$65.01 and a two-hundred day moving average of C$59.09.

TC Energy (TSE:TRP) (NYSE:TRP) last released 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. The firm 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, research analysts expect that TC Energy will post 3.5490515 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $1.113 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $4.45 annualized dividend and a yield of 6.39%. TC Energy’s payout ratio is 116.01%.

Insiders Place Their Bets

In other news, Director Lindsay Mackay sold 3,520 shares of the 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 transaction of C$246,400.00. Also, Director Greg Grant sold 12,000 shares of TC Energy stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of C$62.62, for a total transaction of C$751,384.80. Insiders have sold 214,476 shares of company stock worth $14,299,929 in the last quarter. 0.03% of the stock is owned by corporate 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.