TC Energy (NYSE:TRP) Price Target Lowered to C$69.00 at CIBC

TC Energy (NYSE:TRP) (TSE:TRP) had its target price reduced by CIBC from C$72.00 to C$69.00 in a research note released on Tuesday morning, The Fly reports.

Several other analysts have also issued reports on TRP. TheStreet lowered shares of TC Energy from a b rating to a c+ rating in a research report on Tuesday, November 30th. TD Securities dropped their price target on shares of TC Energy from C$73.00 to C$72.00 and set a buy rating for the company in a research report on Monday, November 8th. National Bank Financial lowered shares of TC Energy from an outperform rating to a sector perform rating in a research report on Monday, November 8th. The Goldman Sachs Group dropped their price target on shares of TC Energy from $50.00 to $45.00 and set a neutral rating for the company in a research report on Wednesday, December 15th. Finally, Raymond James started coverage on shares of TC Energy in a research report on Wednesday, December 22nd. They issued a strong-buy rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $67.30.

Shares of TRP stock opened at $50.02 on Tuesday. The company has a 50 day moving average price of $47.64 and a 200-day moving average price of $48.95. TC Energy has a 52 week low of $41.89 and a 52 week high of $55.34. The firm has a market capitalization of $49.06 billion, a PE ratio of 32.91, a P/E/G ratio of 3.82 and a beta of 0.80. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 1.52.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, November 5th. The pipeline company reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $3.51 billion. TC Energy had a net margin of 15.35% and a return on equity of 15.17%. During the same period in the previous year, the business posted $0.71 earnings per share. Analysts anticipate that TC Energy will post 3.35 earnings per share for the current year.

The firm also recently declared a dividend, which was paid on Friday, December 31st. Investors of record on Tuesday, November 30th were paid a dividend of $0.6986 per share. This is an increase from TC Energy’s previous dividend of $0.58. The ex-dividend date of this dividend was Monday, November 29th. This represents a yield of 5.63%. TC Energy’s dividend payout ratio is presently 180.26%.

Institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its stake in TC Energy by 123.8% during the second quarter. Parallel Advisors LLC now owns 508 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 281 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new stake in TC Energy during the third quarter valued at $27,000. MUFG Americas Holdings Corp purchased a new stake in TC Energy during the third quarter valued at $29,000. NEXT Financial Group Inc raised its stake in shares of TC Energy by 25.5% in the third quarter. NEXT Financial Group Inc now owns 1,250 shares of the pipeline company’s stock valued at $60,000 after acquiring an additional 254 shares during the period. Finally, Archer Investment Corp raised its stake in shares of TC Energy by 58.1% in the third quarter. Archer Investment Corp now owns 1,328 shares of the pipeline company’s stock valued at $64,000 after acquiring an additional 488 shares during the period. 69.71% of the stock is currently owned by institutional investors.

TC Energy Company Profile

TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Storage, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.

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