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

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP had its price target upped by stock analysts at CIBC from C$66.00 to C$67.00 in a research note issued on Friday,BayStreet.CA reports. CIBC's target price points to a potential downside of 1.21% from the stock's previous close.

A number of other analysts have also recently commented on the stock. Jefferies Financial Group boosted their target price 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, September 30th. Royal Bank of Canada boosted their price objective on TC Energy from C$67.00 to C$71.00 in a research note on Friday. JPMorgan Chase & Co. reduced their target price on TC Energy from C$66.00 to C$60.00 and set a "neutral" rating for the company in a report on Tuesday, October 8th. UBS Group raised TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 30th. Finally, Barclays increased their price objective on TC Energy from C$66.00 to C$67.00 in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of C$66.15.

TC Energy Price Performance

Shares of TC Energy stock traded down C$1.01 on Friday, reaching C$67.82. The company's stock had a trading volume of 3,536,000 shares, compared to its average volume of 7,012,491. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. The company has a market capitalization of C$70.53 billion, a P/E ratio of 20.49, a PEG ratio of 1.69 and a beta of 0.82. The stock has a 50-day moving average price of C$63.74 and a 200-day moving average price of C$57.67. TC Energy has a 52-week low of C$43.83 and a 52-week high of C$69.61.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last issued its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, topping the consensus estimate of C$0.97 by C$0.06. The company had revenue of C$4.08 billion during the quarter, compared to analyst estimates of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. Analysts expect that TC Energy will post 3.5490515 EPS for the current year.

Insider Activity

In other news, Director Rosemary K. Stevens sold 1,200 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of C$59.88, for a total transaction of C$71,856.00. Following the completion of the transaction, the director now directly owns 987 shares in the company, valued at approximately C$59,101.56. This represents a 0.00 % decrease in their position. In other news, Director Rosemary K. Stevens sold 1,200 shares of the company's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$59.88, for a total value of C$71,856.00. Following the transaction, the director now directly owns 987 shares in the company, valued at approximately C$59,101.56. This represents a 0.00 % decrease in their position. Also, Director Richard Prior sold 3,000 shares of TC Energy stock in a transaction on Friday, August 16th. The shares were sold at an average price of C$44.00, for a total value of C$132,000.00. In the last 90 days, insiders have sold 76,114 shares of company stock valued at $4,704,641. 0.03% of the stock is currently owned by company insiders.

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.