TC Energy (TSE:TRP) PT Lowered to C$57.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target cut by CIBC from C$62.00 to C$57.00 in a report released on Wednesday, BayStreet.CA reports. The firm currently has a “negative” rating on the stock. CIBC’s price objective suggests a potential downside of 5.19% from the company’s previous close.

Several other equities analysts have also recently issued reports on TRP. National Bankshares raised their price target on TC Energy from C$60.00 to C$65.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Scotiabank reduced their target price on shares of TC Energy from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Jefferies Financial Group lifted their price target on shares of TC Energy from C$57.00 to C$66.00 and gave the stock a “hold” rating in a research report on Monday. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, ATB Capital lifted their target price on shares of TC Energy from C$56.00 to C$60.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, TC Energy currently has an average rating of “Moderate Buy” and an average target price of C$59.23.

TC Energy Price Performance

Shares of TRP stock opened at C$60.12 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. The firm has a market capitalization of C$62.52 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 0.26 and a beta of 0.82. The firm’s 50 day moving average is C$61.41 and its 200-day moving average is C$55.64. TC Energy has a 1 year low of C$44.70 and a 1 year high of C$65.39.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.89 by C$0.05. The firm had revenue of C$4.09 billion for the quarter, compared to the consensus estimate of C$3.78 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. Sell-side analysts forecast that TC Energy will post 4.4244068 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Christine R. Johnston sold 16,292 shares of TC Energy stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of C$59.71, for a total transaction of C$972,795.32. Following the transaction, the insider now owns 466 shares in the company, valued at approximately C$27,824.86. In other TC Energy news, Senior Officer Christine R. Johnston sold 16,292 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of C$59.71, for a total transaction of C$972,795.32. Following the sale, the insider now directly owns 466 shares in the company, valued at approximately C$27,824.86. Also, Director Colin Lindley sold 2,773 shares of TC Energy stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the completion of the transaction, the director now directly owns 697 shares in the company, valued at approximately C$41,413.16. Insiders sold 95,479 shares of company stock worth $5,860,018 over the last ninety days. 0.04% of the stock is currently owned by corporate 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.