TC Energy (TSE:TRP) Given New C$57.00 Price Target at CIBC

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective reduced by equities researchers at CIBC from C$62.00 to C$57.00 in a research report issued on Wednesday, BayStreet.CA reports. The firm currently has a “negative” rating on the stock. CIBC’s price target suggests a potential downside of 3.01% from the company’s current price.

Several other equities analysts also recently weighed in on the company. BMO Capital Markets raised their price objective on TC Energy from C$57.00 to C$65.00 in a research note on Thursday, September 5th. Scotiabank cut their price target on TC Energy from C$62.00 to C$61.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. ATB Capital boosted their price objective on shares of TC Energy from C$56.00 to C$60.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 10th. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Wells Fargo & Company upped their price target on shares of TC Energy from C$59.00 to C$64.00 in a report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, TC Energy presently has an average rating of “Moderate Buy” and an average price target of C$58.38.

TC Energy Stock Performance

TSE:TRP traded down C$6.49 during mid-day trading on Wednesday, reaching C$58.77. The stock had a trading volume of 1,446,305 shares, compared to its average volume of 6,672,346. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. The business has a 50 day simple moving average of C$61.31 and a 200 day simple moving average of C$55.58. TC Energy has a twelve month low of C$44.70 and a twelve month high of C$65.39. The firm has a market capitalization of C$61.12 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 0.26 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.89 by C$0.05. The firm had revenue of C$4.09 billion for the quarter, compared to analyst estimates of C$3.78 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. On average, analysts expect that TC Energy will post 4.4244068 earnings per share for the current fiscal year.

Insider Activity

In other TC Energy news, Director Richard Prior sold 18,068 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of C$63.00, for a total transaction of C$1,138,284.00. In related news, Director Rosemary K. Stevens sold 1,200 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 987 shares in the company, valued at approximately C$59,101.56. Also, Director Richard Prior sold 18,068 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total value of C$1,138,284.00. Insiders have sold 95,479 shares of company stock worth $5,860,018 over the last 90 days. Company insiders own 0.04% 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.