CIBC Reaffirms Buy Rating for TC Energy (TSE:TRP)

CIBC reiterated their buy rating on shares of TC Energy (TSE:TRP) (NYSE:TRP) in a report published on Tuesday morning, Analyst Price Targets reports. CIBC currently has a C$74.00 price target on the stock.

A number of other research firms have also issued reports on TRP. UBS Group reaffirmed a buy rating and set a C$66.00 target price on shares of TC Energy in a report on Tuesday, August 3rd. JPMorgan Chase & Co. lowered their target price on TC Energy from C$70.00 to C$68.00 and set a neutral rating on the stock in a report on Friday, August 20th. National Bankshares dropped their price target on TC Energy from C$67.00 to C$66.00 and set an outperform rating on the stock in a research note on Tuesday, August 3rd. Tudor Pickering & Holt set a C$63.00 price target on TC Energy and gave the stock a buy rating in a research note on Friday, September 17th. Finally, National Bank Financial dropped their price target on TC Energy from C$67.00 to C$66.00 and set an outperform rating on the stock in a research note on Tuesday, August 3rd. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of C$68.50.

TSE:TRP opened at C$62.28 on Tuesday. The business’s 50-day moving average price is C$60.80 and its 200 day moving average price is C$60.81. The firm has a market cap of C$60.97 billion and a P/E ratio of 30.40. TC Energy has a 52-week low of C$50.61 and a 52-week high of C$65.44. The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt-to-equity ratio of 162.89.

TC Energy (TSE:TRP) (NYSE:TRP) last released its earnings results on Thursday, July 29th. The company reported C$1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.96 by C$0.11. The firm had revenue of C$3.18 billion for the quarter. Sell-side analysts expect that TC Energy will post 4.344974 EPS for the current year.

In other news, Director Nathaniel A. Brown purchased 550 shares of TC Energy stock in a transaction dated Friday, August 20th. The stock was acquired at an average cost of C$59.33 per share, for a total transaction of C$32,633.70. Following the acquisition, the director now directly owns 2,250 shares in the company, valued at C$133,501.50. Also, Director James Eckert purchased 1,643 shares of TC Energy stock in a transaction dated Tuesday, August 3rd. The shares were purchased at an average price of C$64.24 per share, with a total value of C$105,542.71. Following the completion of the acquisition, the director now owns 4,874 shares in the company, valued at C$313,095.04. Over the last 90 days, insiders have acquired 2,284 shares of company stock valued at $143,587 and have sold 11,465 shares valued at $712,789.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Storage segments. The company builds and operates 93,400 km network 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.

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Analyst Recommendations for TC Energy (TSE:TRP)

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