CIBC Boosts TC Energy (TSE:TRP) Price Target to C$67.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target hoisted by CIBC from C$66.00 to C$67.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC’s price target would suggest a potential downside of 1.21% from the stock’s previous close.

A number of other brokerages have also recently weighed in on TRP. Scotiabank upped their price target on TC Energy from C$68.00 to C$74.00 in a research report on Friday. Barclays upped their target price on shares of TC Energy from C$66.00 to C$67.00 in a report on Monday, October 21st. ATB Capital cut their price target on shares of TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating for the company in a report on Thursday, October 3rd. UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Finally, National Bankshares raised their price objective on shares of TC Energy from C$60.00 to C$70.00 in a report on Friday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, TC Energy has a consensus rating of “Hold” and an average price target of C$66.15.

TC Energy Price Performance

Shares of TC Energy stock opened at C$67.82 on Friday. The firm has a market cap of C$70.53 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The firm’s 50-day simple moving average is C$63.74 and its 200-day simple moving average is C$57.67. TC Energy has a twelve month low of C$43.83 and a twelve month high of C$69.61. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share 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 company had revenue of C$4.08 billion for the quarter, compared to the consensus estimate of C$3.90 billion. As a group, research analysts expect that TC Energy will post 3.5490515 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Senior Officer Nancy Angenita Johnson sold 5,414 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of C$61.16, for a total value of C$331,133.78. 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 completion of the sale, the director now owns 987 shares in the company, valued at approximately C$59,101.56. The trade was a 0.00 % decrease in their position. Also, Senior Officer Nancy Angenita Johnson sold 5,414 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of C$61.16, for a total value of C$331,133.78. In the last quarter, insiders have sold 76,114 shares of company stock valued at $4,704,641. 0.03% of the stock is currently owned by corporate insiders.

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.