CIBC Trims TC Energy (TSE:TRP) Target Price to C$57.00

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

TRP has been the topic of a number of other reports. Barclays increased their target price on TC Energy from C$61.00 to C$64.00 in a report on Monday, August 19th. Jefferies Financial Group raised their price objective on shares of TC Energy from C$57.00 to C$66.00 and gave the company a hold rating in a research note on Monday, September 30th. Wells Fargo & Company upped their target price on shares of TC Energy from C$59.00 to C$64.00 in a report on Tuesday, June 4th. BMO Capital Markets lifted their price target on TC Energy from C$57.00 to C$65.00 in a research note on Thursday, September 5th. Finally, ATB Capital boosted their price objective on 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, TC Energy presently has a consensus rating of Moderate Buy and a consensus price target of C$59.23.

TC Energy Stock Performance

The firm has a market capitalization of C$63.67 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 0.26 and a beta of 0.82. The firm’s fifty day moving average is C$61.41 and its 200-day moving average is C$55.64. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. TC Energy has a fifty-two week low of C$44.70 and a fifty-two week high of C$65.39.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, beating analysts’ consensus estimates of C$0.89 by C$0.05. The business had revenue of C$4.09 billion during the quarter, compared to analyst estimates of C$3.78 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. Equities research analysts forecast that TC Energy will post 4.4244068 EPS for the current year.

TC Energy Announces Dividend

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

Insider Activity

In other TC Energy news, Director Colin Lindley sold 2,773 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 697 shares in the company, valued at C$41,413.16. The trade was a 0.00 % decrease in their ownership of the stock. In related 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 value of C$972,795.32. Following the completion of the sale, the insider now owns 466 shares of the company’s stock, valued at approximately C$27,824.86. This trade represents a 0.00 % decrease in their position. Also, Director Colin Lindley sold 2,773 shares of the business’s stock in a transaction dated 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 in the company, valued at C$41,413.16. This represents a 0.00 % decrease in their ownership of the stock. Insiders sold a total of 95,479 shares of company stock valued at $5,860,018 in the last ninety days. 0.04% of the stock is currently 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.