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

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective increased by stock analysts at CIBC from C$66.00 to C$67.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s target price would suggest a potential downside of 1.60% from the stock’s current price.

A number of other analysts also recently issued reports on TRP. ATB Capital decreased their target price on TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating for the company in a research report on Thursday, October 3rd. Scotiabank lifted their price objective on TC Energy from C$68.00 to C$74.00 in a report on Friday. Barclays upped their price objective on shares of TC Energy from C$66.00 to C$67.00 in a report on Monday, October 21st. Morgan Joseph upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from C$62.00 to C$78.00 in a research note on Friday, October 25th. Finally, National Bankshares upped their price target on shares of TC Energy from C$60.00 to C$70.00 in a research note on Friday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$66.15.

TC Energy Stock Performance

TSE:TRP traded down C$0.74 during trading on Friday, reaching C$68.09. The company’s stock had a trading volume of 924,674 shares, compared to its average volume of 7,000,457. TC Energy has a 12 month low of C$43.83 and a 12 month high of C$69.61. The firm has a market cap of C$70.81 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The firm has a 50 day moving average of C$63.46 and a 200-day moving average of C$57.39. 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 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 analysts’ expectations of C$3.90 billion. Research analysts expect that TC Energy will post 3.5490515 EPS for the current fiscal year.

Insider Transactions at TC Energy

In other TC Energy news, Director Richard Prior sold 3,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of C$44.00, for a total value of C$132,000.00. In other TC Energy news, Director Richard Prior sold 3,000 shares of TC Energy stock in a transaction on Friday, August 16th. The stock was sold at an average price of C$44.00, for a total transaction of C$132,000.00. Also, Senior Officer Dawn Elizabeth De Lima bought 555 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was bought at an average cost of C$62.82 per share, for a total transaction of C$34,865.66. In the last quarter, insiders sold 76,114 shares of company stock valued at $4,704,641. Corporate 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.