Canadian Imperial Bank of Commerce Issues Positive Forecast for TC Energy (TSE:TRP) Stock Price
by Amy Steele · The Cerbat GemTC Energy (TSE:TRP – Get Free Report) (NYSE:TRP) had its price target boosted by Canadian Imperial Bank of Commerce from C$89.00 to C$94.00 in a report issued on Monday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price indicates a potential upside of 4.44% from the stock’s previous close.
A number of other research analysts have also recently commented on the company. Royal Bank Of Canada raised their target price on TC Energy from C$92.00 to C$95.00 and gave the company an “outperform” rating in a research note on Monday. The Goldman Sachs Group upgraded TC Energy from a “sell” rating to a “hold” rating and set a C$62.00 target price for the company in a research note on Sunday, April 19th. Raymond James Financial raised their target price on TC Energy from C$74.00 to C$78.00 in a research note on Monday, March 30th. National Bank Financial raised their target price on TC Energy from C$86.00 to C$92.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Scotiabank raised their target price on TC Energy from C$86.00 to C$93.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$87.46.
Get Our Latest Analysis on TC Energy
TC Energy Trading Down 0.7%
Shares of TRP stock traded down C$0.63 during trading hours on Monday, reaching C$90.00. The company’s stock had a trading volume of 1,053,579 shares, compared to its average volume of 5,771,738. The stock has a market capitalization of C$93.76 billion, a P/E ratio of 27.52, a P/E/G ratio of 1.69 and a beta of 0.76. The company has a current ratio of 0.65, a quick ratio of 0.40 and a debt-to-equity ratio of 224.52. The firm’s fifty day simple moving average is C$86.66 and its 200 day simple moving average is C$79.81. TC Energy has a one year low of C$63.34 and a one year high of C$91.50.
TC Energy (TSE:TRP – Get Free Report) (NYSE:TRP) last released its earnings results on Friday, May 1st. The company reported C$0.99 EPS for the quarter. The company had revenue of C$3.86 billion during the quarter. TC Energy had a return on equity of 12.53% and a net margin of 21.83%. Equities research analysts expect that TC Energy will post 3.5490515 EPS for the current year.
Insider Transactions at TC Energy
In other TC Energy news, insider Dawn Elizabeth De Lima sold 25,342 shares of TC Energy stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of C$88.73, for a total transaction of C$2,248,595.66. Following the completion of the transaction, the insider owned 18,490 shares in the company, valued at approximately C$1,640,617.70. The trade was a 57.82% decrease in their ownership of the stock. Insiders own 0.03% of the company’s stock.
TC Energy Company Profile
TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.