TC Energy (TSE:TRP) Price Target Raised to C$68.00 at CIBC

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

A number of other analysts have also commented on the stock. Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and upped their price objective for the company from C$62.00 to C$78.00 in a research note on Friday, October 25th. Barclays raised their price objective on shares of TC Energy from C$66.00 to C$67.00 in a research note on Monday, October 21st. Veritas raised shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. ATB Capital raised their target price on TC Energy from C$64.00 to C$65.00 in a research report on Friday, November 8th. Finally, UBS Group upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. Two research 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 company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$69.54.

TC Energy Price Performance

Shares of TSE:TRP opened at C$68.79 on Wednesday. The company has a market capitalization of C$71.54 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. 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 stock has a fifty day moving average of C$64.70 and a 200-day moving average of C$58.75. TC Energy has a one year low of C$43.83 and a one year high of C$70.24.

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

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $1.113 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. 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 yield of 6.47%. TC Energy’s payout ratio is 116.01%.

Insider Activity

In other news, Director Trevor Ebl sold 9,554 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of C$68.48, for a total value of C$654,219.70. Also, Director Lindsay Mackay sold 3,520 shares of TC Energy 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 90 days, insiders sold 89,490 shares of company stock worth $5,749,355. Insiders own 0.03% 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.