TC Energy (TSE:TRP) Given New C$68.00 Price Target at CIBC

TC Energy (TSE:TRP) (NYSE:TRP) had its price target lifted by CIBC from C$67.00 to C$68.00 in a research report released on Wednesday,BayStreet.CA reports.

Several other equities analysts have also recently weighed in on TRP. Barclays raised their price target on shares of TC Energy from C$66.00 to C$67.00 in a research note on Monday, October 21st. JPMorgan Chase & Co. raised their target price on shares of TC Energy from C$70.00 to C$79.00 in a research report on Monday. Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from C$62.00 to C$78.00 in a research report on Friday, October 25th. Jefferies Financial Group increased their price objective on shares of TC Energy from C$64.00 to C$65.00 in a research note on Wednesday. Finally, Wells Fargo & Company upped their target price on TC Energy from C$74.00 to C$76.00 in a report on Wednesday. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$69.54.

TC Energy Trading Down 1.2 %

TRP opened at C$68.79 on Wednesday. The firm’s fifty day simple moving average is C$64.70 and its 200 day simple moving average is C$58.75. The stock has a market capitalization of C$71.54 billion, a P/E ratio of 20.78, a P/E/G ratio of 1.69 and a beta of 0.82. 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 12 month low of C$43.83 and a 12 month high of C$70.24.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.06. The company had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. As a group, research analysts anticipate that TC Energy will post 3.5490515 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.113 per share. This represents a $4.45 dividend on an annualized basis and a yield of 6.47%. This is a boost from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, December 31st. TC Energy’s payout ratio is 116.01%.

Insider Activity

In related news, Director Mark Yeomans sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of C$61.58, for a total value of C$400,297.95. Also, Director Lindsay Mackay sold 3,520 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of C$70.00, for a total value of C$246,400.00. Over the last quarter, insiders have sold 89,490 shares of company stock valued at $5,749,355. 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.