TC Energy (TSE:TRP) Given New C$70.00 Price Target at CIBC

TC Energy (TSE:TRP) (NYSE:TRP) had its target price increased by research analysts at CIBC from C$68.00 to C$70.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “neutral” rating on the stock. CIBC’s price target would suggest a potential upside of 4.00% from the stock’s current price.

A number of other brokerages have also recently weighed in on TRP. Wells Fargo & Company upped their price target on shares of TC Energy from C$74.00 to C$76.00 in a research report on Wednesday, November 20th. Morgan Joseph upgraded TC Energy from an “underweight” rating to an “overweight” rating and increased their target price for the company from C$62.00 to C$78.00 in a research note on Friday, October 25th. National Bankshares lifted their target price on TC Energy from C$70.00 to C$71.00 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lifted their price objective on TC Energy from C$70.00 to C$79.00 in a report on Monday, November 18th. Finally, Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$69.92.

TC Energy Stock Performance

TC Energy stock opened at C$67.31 on Thursday. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. TC Energy has a 12 month low of C$43.83 and a 12 month high of C$70.32. The company has a market cap of C$70.00 billion, a price-to-earnings ratio of 20.34, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The stock’s 50-day moving average is C$67.57 and its 200-day moving average is C$62.33.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, beating the consensus estimate of C$0.97 by C$0.06. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The firm had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. Equities analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Trevor Ebl sold 9,554 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of C$68.48, for a total transaction of C$654,219.70. Also, Senior Officer Stanley G. Chapman Iii sold 267,435 shares of the stock in a transaction 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. Over the last three months, insiders have sold 420,911 shares of company stock valued at $28,259,105. Company insiders own 0.03% of the company’s stock.

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.