TC Energy (TSE:TRP) PT Lowered to C$57.00 at CIBC

TC Energy (TSE:TRP) (NYSE:TRP) had its target price cut by CIBC from C$62.00 to C$57.00 in a report issued on Wednesday, BayStreet.CA reports. The brokerage presently has a “negative” rating on the stock. CIBC’s target price points to a potential downside of 3.01% from the company’s current price.

A number of other analysts have also issued reports on TRP. UBS Group raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday. ATB Capital upped their target price on shares of TC Energy from C$56.00 to C$60.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 10th. Jefferies Financial Group raised their price target on shares of TC Energy from C$57.00 to C$66.00 and gave the stock a “hold” rating in a research note on Monday. Scotiabank dropped their price objective on shares of 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. Finally, Wells Fargo & Company raised their target price on shares of TC Energy from C$59.00 to C$64.00 in a research note on Tuesday, June 4th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$58.38.

TC Energy Price Performance

TRP stock traded down C$6.49 during mid-day trading on Wednesday, reaching C$58.77. 1,446,305 shares of the company’s stock were exchanged, compared to its average volume of 6,672,346. The company has a market cap of C$61.12 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 0.26 and a beta of 0.82. TC Energy has a 12-month low of C$44.70 and a 12-month high of C$65.39. The stock’s 50 day moving average is C$61.31 and its 200 day moving average is C$55.58. 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 (TSE:TRP) (NYSE:TRP) last posted 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 company had revenue of C$4.09 billion during the quarter, compared to analysts’ expectations of C$3.78 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 4.4244068 EPS for the current year.

Insider Buying and Selling at TC Energy

In other news, Senior Officer Christine R. Johnston sold 16,292 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of C$59.71, for a total value of C$972,795.32. Following the completion of the sale, the insider now directly owns 466 shares of the company’s stock, valued at approximately C$27,824.86. In other news, Director Colin Lindley sold 2,773 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the completion of the sale, the director now owns 697 shares in the company, valued at C$41,413.16. Also, Senior Officer Christine R. Johnston sold 16,292 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of C$59.71, for a total value of C$972,795.32. Following the completion of the transaction, the insider now owns 466 shares in the company, valued at approximately C$27,824.86. Insiders sold 95,479 shares of company stock worth $5,860,018 over the last 90 days. Corporate 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.