CIBC Reaffirms Buy Rating for TC Energy (TSE:TRP)

TC Energy (TSE:TRP) (NYSE:TRP)‘s stock had its “buy” rating reiterated by equities research analysts at CIBC in a research report issued on Tuesday, Analyst Price Targets reports. They presently have a C$74.00 price objective on the stock. CIBC’s price target suggests a potential upside of 19.20% from the stock’s previous close.

TRP has been the topic of several other reports. Tudor Pickering & Holt set a C$63.00 price objective on TC Energy and gave the company a “buy” rating in a research report on Friday, September 17th. The Goldman Sachs Group lowered TC Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from C$75.00 to C$63.00 in a research report on Monday, September 13th. Tudor Pickering reissued a “buy” rating and issued a C$63.00 price objective on shares of TC Energy in a report on Thursday, September 16th. Credit Suisse Group boosted their price objective on TC Energy to C$77.00 and gave the company an “outperform” rating in a report on Thursday, June 17th. Finally, National Bank Financial lowered their price objective on TC Energy from C$67.00 to C$66.00 and set an “outperform” rating for the company in a report on Tuesday, August 3rd. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, TC Energy currently has a consensus rating of “Buy” and an average price target of C$68.50.

TC Energy stock traded up C$0.29 during midday trading on Tuesday, reaching C$62.08. The stock had a trading volume of 449,362 shares, compared to its average volume of 4,142,024. The stock’s 50-day simple moving average is C$60.79 and its 200 day simple moving average is C$60.80. The company has a debt-to-equity ratio of 162.89, a quick ratio of 0.45 and a current ratio of 0.61. TC Energy has a twelve month low of C$50.61 and a twelve month high of C$65.44. The stock has a market capitalization of C$60.78 billion and a PE ratio of 30.16.

In other news, Senior Officer Patrick M. Keys sold 8,344 shares of the firm’s stock in a transaction that occurred on Monday, September 13th. The shares were sold at an average price of C$62.75, for a total transaction of C$523,604.36. Following the completion of the sale, the insider now owns 18,108 shares of the company’s stock, valued at C$1,136,316.84. Also, Director Nathaniel A. Brown purchased 550 shares of the firm’s stock in a transaction dated Friday, August 20th. The shares were bought at an average cost of C$59.33 per share, for a total transaction of C$32,633.70. Following the completion of the purchase, the director now directly owns 2,250 shares of the company’s stock, valued at C$133,501.50. Over the last quarter, insiders purchased 2,284 shares of company stock valued at $143,587 and sold 11,465 shares valued at $712,789.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Storage segments. The company builds and operates 93,400 km network 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.

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Analyst Recommendations for TC Energy (TSE:TRP)

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