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

TC Energy (TSE:TRP - Free Report) NYSE: TRP had its price objective upped by CIBC from C$68.00 to C$70.00 in a report published on Thursday,BayStreet.CA reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently weighed in on TRP. Jefferies Financial Group boosted their target price on shares of TC Energy from C$64.00 to C$65.00 in a research note on Wednesday, November 20th. Royal Bank of Canada upped their target price on TC Energy from C$67.00 to C$71.00 in a report on Friday, November 8th. National Bankshares increased their target price on TC Energy from C$70.00 to C$71.00 in a research report on Wednesday, November 20th. BMO Capital Markets boosted their price target on TC Energy from C$70.00 to C$73.00 in a report on Friday, November 29th. Finally, Scotiabank raised their price objective on shares of TC Energy from C$74.00 to C$75.00 in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of C$69.92.

TC Energy Price Performance

TSE:TRP traded up C$0.23 during trading hours on Thursday, reaching C$68.91. 2,313,450 shares of the company were exchanged, compared to its average volume of 5,864,210. The business has a 50 day moving average of C$67.52 and a 200 day moving average of C$62.23. The company has a market capitalization of C$71.67 billion, a P/E ratio of 20.82, a P/E/G ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. TC Energy has a 1-year low of C$43.83 and a 1-year high of C$70.32.

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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of C$3.90 billion. Research analysts forecast that TC Energy will post 3.5490515 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $1.113 per share. This is a positive change from TC Energy's previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, December 31st. This represents a $4.45 annualized dividend and a dividend yield of 6.46%. TC Energy's dividend payout ratio is presently 116.01%.

Insider Buying and Selling

In other news, Director Jawad Masud sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of C$66.50, for a total transaction of C$332,500.00. Also, Director Alexander (Alex) Oehler bought 6,540 shares of the business's stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of C$66.05 per share, for a total transaction of C$431,947.64. Insiders sold 420,911 shares of company stock valued at $28,259,105 over the last 90 days. Company insiders own 0.03% of the company's stock.

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.