TC Energy (TSE:TRP) PT Lowered to C$57.00 at CIBC

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

A number of other equities research analysts have also recently issued reports on TRP. ATB Capital boosted their target price on shares of TC Energy from C$56.00 to C$60.00 and gave the company a sector perform rating in a report on Tuesday, September 10th. Scotiabank lowered their price target on shares of TC Energy from C$62.00 to C$61.00 and set an outperform rating on the stock in a report on Wednesday, September 25th. Jefferies Financial Group upped their target price on shares of TC Energy from C$57.00 to C$66.00 and gave the stock a hold rating in a report on Monday, September 30th. Barclays raised their price target on shares of TC Energy from C$61.00 to C$64.00 in a report on Monday, August 19th. Finally, Wells Fargo & Company increased their price objective on TC Energy from C$59.00 to C$64.00 in a research report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, TC Energy has a consensus rating of Moderate Buy and an average price target of C$59.23.

TC Energy Stock Performance

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 has a 50 day moving average price of C$61.41 and a 200 day moving average price of C$55.64. TC Energy has a 12 month low of C$44.70 and a 12 month high of C$65.39. The stock has a market capitalization of C$63.67 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 0.26 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, topping the consensus estimate of C$0.89 by C$0.05. The company 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%. As a group, equities research analysts forecast that TC Energy will post 4.4244068 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 dividend yield of ∞. TC Energy’s dividend payout ratio (DPR) is 116.01%.

Insider Activity at TC Energy

In other TC Energy news, Director Jawad Masud sold 6,041 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$63.50, for a total transaction of C$383,603.50. In other TC Energy news, Director Jawad Masud sold 6,041 shares of TC Energy stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$63.50, for a total value of C$383,603.50. Also, Director Colin Lindley sold 2,773 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at C$41,413.16. The trade was a 0.00 % decrease in their position. In the last 90 days, insiders have sold 95,479 shares of company stock valued at $5,860,018. Insiders own 0.04% of the company’s stock.

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.