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

TC Energy (TSE:TRP) (NYSE:TRP) had its price target lifted by CIBC from C$68.00 to C$70.00 in a report released on Thursday,BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the company. Scotiabank upped their target price on TC Energy from C$74.00 to C$75.00 in a research report on Wednesday, November 20th. Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from C$62.00 to C$78.00 in a research report on Friday, October 25th. ATB Capital boosted their target price on shares of TC Energy from C$64.00 to C$65.00 in a research report on Friday, November 8th. Raymond James upgraded shares of TC Energy to a “hold” rating in a report on Thursday, November 21st. Finally, Barclays upped their price objective on shares of TC Energy from C$67.00 to C$74.00 in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$69.92.

TC Energy Stock Up 0.3 %

TC Energy stock opened at C$68.91 on Thursday. The firm has a market cap of C$71.67 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 1.69 and a beta of 0.82. TC Energy has a 52-week low of C$43.83 and a 52-week high of C$70.32. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. The firm has a 50 day moving average price of C$67.52 and a two-hundred day moving average price of C$62.23.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.97 by C$0.06. The business 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 analysts predict that TC Energy will post 3.5490515 EPS for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $1.113 per share. This is a positive change 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 6.46%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is presently 116.01%.

Insider Buying and Selling

In related news, Director Trevor Ebl sold 9,554 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of C$68.48, for a total transaction of C$654,219.70. Also, Director Alexander (Alex) Oehler bought 6,540 shares of the company’s stock in a transaction on Monday, December 30th. The stock was bought at an average price of C$66.05 per share, for a total transaction of C$431,947.64. Over the last ninety days, insiders have sold 420,911 shares of company stock worth $28,259,105. 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.