TC Energy (TSE:TRP) Given New C$70.00 Price Target at CIBC

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

Several other brokerages have also recently weighed in on TRP. ATB Capital upped their price target on 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 research note on Thursday, November 21st. National Bankshares boosted their price target on shares of TC Energy from C$70.00 to C$71.00 in a research report on Wednesday, November 20th. BMO Capital Markets increased their price objective on TC Energy from C$70.00 to C$73.00 in a research report on Friday, November 29th. Finally, JPMorgan Chase & Co. boosted their target price on TC Energy from C$70.00 to C$79.00 in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$69.92.

TC Energy Stock Performance

Shares of TRP stock opened at C$68.91 on Thursday. TC Energy has a 12 month low of C$43.83 and a 12 month high of C$70.32. The stock has a market capitalization of C$71.67 billion, a P/E ratio of 20.82, a PEG ratio of 1.69 and a beta of 0.82. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. The firm’s 50 day moving average is C$67.52 and its 200 day moving average is C$62.23.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of C$4.08 billion for the quarter, compared to the consensus estimate of C$3.90 billion. On average, sell-side analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current year.

TC Energy Increases Dividend

The firm 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 dividend of $1.113 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is presently 116.01%.

Insider Transactions at TC Energy

In other news, Director Colin Lindley sold 3,194 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of C$68.70, for a total value of C$219,425.56. Following the completion of the sale, the director now owns 697 shares of the company’s stock, valued at approximately C$47,883.41. The trade was a 82.09 % decrease in their position. Also, Senior Officer Stanley G. Chapman Iii sold 267,435 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of C$66.51, for a total value of C$17,785,898.39. In the last ninety days, insiders sold 420,911 shares of company stock worth $28,259,105. 0.03% of the stock is currently owned by insiders.

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.