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

TC Energy (TSE:TRP) (NYSE:TRP) had its price target reduced by CIBC from C$62.00 to C$57.00 in a research note released on Wednesday, BayStreet.CA reports. They currently have a negative rating on the stock.

Several other research analysts also recently commented on the stock. Wells Fargo & Company raised their price target on shares of TC Energy from C$59.00 to C$64.00 in a report on Tuesday, June 4th. UBS Group upgraded TC Energy from a hold rating to a strong-buy rating in a research report on Monday, September 30th. Barclays upped their target price on TC Energy from C$61.00 to C$64.00 in a research note on Monday, August 19th. BMO Capital Markets lifted their price target on TC Energy from C$57.00 to C$65.00 in a research report on Thursday, September 5th. Finally, Scotiabank decreased their price objective on shares of TC Energy from C$62.00 to C$61.00 and set an outperform rating on the stock in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of C$59.23.

TC Energy Stock Performance

TC Energy has a 1-year low of C$44.70 and a 1-year high of C$65.39. The business’s 50-day moving average is C$61.41 and its 200-day moving average is C$55.64. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. The stock has a market cap of C$63.67 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 0.26 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 21.38% and a return on equity of 10.68%. On average, research analysts forecast that TC Energy will post 4.4244068 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a $0.96 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.84 dividend on an annualized basis and a dividend yield of ∞. TC Energy’s payout ratio is 116.01%.

Insider Activity at TC Energy

In other TC Energy news, Director Jawad Masud sold 6,041 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$63.50, for a total value of C$383,603.50. In related news, Director Jawad Masud sold 6,041 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$63.50, for a total transaction of C$383,603.50. Also, Director Colin Lindley sold 2,773 shares of the business’s 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 value of C$164,761.40. Following the completion of the sale, the director now owns 697 shares of the company’s stock, valued at C$41,413.16. The trade was a 0.00 % decrease in their position. In the last 90 days, insiders have sold 95,479 shares of company stock valued at $5,860,018. Insiders own 0.04% of the company’s stock.

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.