CIBC Issues Positive Forecast for TC Energy (TSE:TRP) Stock Price

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective boosted by CIBC from C$66.00 to C$67.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

TRP has been the subject of several other research reports. National Bankshares raised their price objective on shares of TC Energy from C$60.00 to C$70.00 in a research report on Friday. Scotiabank lifted their price target on shares of TC Energy from C$68.00 to C$74.00 in a research report on Friday. UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. ATB Capital reduced their price target on shares of 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. Finally, BMO Capital Markets reduced their price target on shares of TC Energy from C$65.00 to C$55.00 and set a “market perform” rating for the company in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, TC Energy has a consensus rating of “Hold” and an average price target of C$66.15.

TC Energy Trading Down 1.5 %

TSE:TRP traded down C$1.01 on Friday, reaching C$67.82. 3,536,000 shares of the stock traded hands, compared to its average volume of 7,012,491. The firm has a market capitalization of C$70.53 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The company’s 50 day moving average is C$63.74 and its 200-day moving average is C$57.67. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. TC Energy has a 1-year low of C$43.83 and a 1-year high of C$69.61.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings data 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 the consensus estimate of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. Equities research analysts anticipate that TC Energy will post 3.5490515 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $1.113 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date is Tuesday, December 31st. TC Energy’s payout ratio is 116.01%.

Insider Buying and Selling

In related news, Director Rosemary K. Stevens sold 1,200 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately C$59,101.56. The trade was a 0.00 % decrease in their position. In other TC Energy news, Director Rosemary K. Stevens sold 1,200 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of C$59.88, for a total transaction of C$71,856.00. Following the sale, the director now directly owns 987 shares of the company’s stock, valued at C$59,101.56. This represents a 0.00 % decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 76,114 shares of company stock valued at $4,704,641. 0.03% of the stock is owned by insiders.

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.