TC Energy (TSE:TRP) Stock Price Expected to Rise, CIBC Analyst Says

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

A number of other equities research analysts have also recently weighed in on TRP. Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and boosted their price target for the company from C$62.00 to C$78.00 in a research report on Friday, October 25th. UBS Group upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Raymond James raised TC Energy to a “hold” rating in a report on Thursday, November 21st. Finally, Barclays lifted their target price on shares of TC Energy from C$67.00 to C$74.00 in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$69.92.

TC Energy Stock Performance

Shares of TRP opened at C$67.31 on Thursday. 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 stock has a market cap of C$70.00 billion, a P/E ratio of 20.34, a P/E/G ratio of 1.69 and a beta of 0.82. The stock has a 50-day moving average of C$67.57 and a two-hundred day moving average of C$62.33. TC Energy has a one year low of C$43.83 and a one year high of C$70.32.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings results 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 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. As a group, research analysts predict that TC Energy will post 3.5490515 EPS for the current year.

Insider Buying and Selling at TC Energy

In related news, Director Colin Lindley sold 3,194 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of C$68.70, for a total value of C$219,425.56. Following the completion of the sale, the director now owns 697 shares in the company, valued at C$47,883.41. This trade represents a 82.09 % decrease in their ownership of the stock. Also, Senior Officer Nancy Angenita Johnson sold 3,328 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of C$67.75, for a total transaction of C$225,472.00. In the last 90 days, insiders have sold 420,911 shares of company stock valued at $28,259,105. 0.03% of the stock is 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.