CIBC Forecasts Strong Price Appreciation for TC Energy (TSE:TRP) Stock

TC Energy (TSE:TRP) (NYSE:TRP) had its price target raised by research analysts at CIBC from C$67.00 to C$68.00 in a research report issued on Wednesday,BayStreet.CA reports. CIBC’s price target would suggest a potential downside of 0.87% from the stock’s current price.

A number of other research analysts have also issued reports on the company. JPMorgan Chase & Co. lifted their target price on TC Energy from C$70.00 to C$79.00 in a report on Monday. Scotiabank lifted their price target on shares of TC Energy from C$74.00 to C$75.00 in a research note on Wednesday. Barclays lifted their price target on shares of TC Energy from C$66.00 to C$67.00 in a research note on Monday, October 21st. BMO Capital Markets lifted their price target on shares of TC Energy from C$55.00 to C$66.00 in a research note on Friday, November 8th. Finally, Jefferies Financial Group lifted their price target on shares of TC Energy from C$64.00 to C$65.00 in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$69.54.

TC Energy Trading Down 1.4 %

Shares of TC Energy stock traded down C$1.00 during mid-day trading on Wednesday, hitting C$68.60. The stock had a trading volume of 1,041,431 shares, compared to its average volume of 6,852,991. The firm has a 50-day moving average of C$64.60 and a two-hundred day moving average of C$58.62. The firm has a market cap of C$71.34 billion, a P/E ratio of 20.73, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. TC Energy has a 12-month low of C$43.83 and a 12-month high of C$70.24.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of C$4.08 billion during the quarter, compared to analyst estimates of C$3.90 billion. Sell-side analysts forecast that TC Energy will post 3.5490515 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Mark Yeomans sold 6,500 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of C$61.58, for a total value of C$400,297.95. Also, Director Richard Prior sold 18,068 shares of the company’s stock in a transaction dated 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. Insiders have sold 89,490 shares of company stock worth $5,749,355 in the last three months. 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.