TC Energy (TSE:TRP) Rating Increased to Outperform at Canadian Imperial Bank of Commerce

TC Energy (TSE:TRP) (NYSE:TRP) was upgraded by stock analysts at Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperform” rating in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a C$89.00 target price on the stock, up from their previous target price of C$85.00. Canadian Imperial Bank of Commerce’s price objective points to a potential upside of 6.80% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Raymond James Financial lifted their price objective on shares of TC Energy from C$74.00 to C$78.00 in a research report on Monday, March 30th. ATB Cormark Capital Markets lifted their price objective on shares of TC Energy from C$73.00 to C$80.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada lifted their price objective on shares of TC Energy from C$84.00 to C$92.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Citigroup lifted their price objective on shares of TC Energy from C$86.00 to C$95.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 31st. Finally, The Goldman Sachs Group raised shares of TC Energy from a “sell” rating to a “hold” rating and set a C$62.00 price objective on the stock in a research report on Sunday. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$84.67.

TC Energy Stock Up 1.5%

Shares of TSE:TRP traded up C$1.21 during trading hours on Thursday, hitting C$83.33. The company’s stock had a trading volume of 1,158,302 shares, compared to its average volume of 5,579,973. TC Energy has a 52 week low of C$63.34 and a 52 week high of C$90.27. The company has a debt-to-equity ratio of 223.25, a current ratio of 0.63 and a quick ratio of 0.40. The company has a market capitalization of C$86.81 billion, a price-to-earnings ratio of 25.48, a P/E/G ratio of 1.69 and a beta of 0.72. The firm’s fifty day moving average price is C$86.54 and its 200 day moving average price is C$79.29.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Friday, February 13th. The company reported C$0.98 EPS for the quarter. TC Energy had a net margin of 23.23% and a return on equity of 12.80%. The business had revenue of C$4.17 billion during the quarter. As a group, research analysts expect that TC Energy will post 3.5490515 EPS for the current year.

Insiders Place Their Bets

In other TC Energy news, insider Dawn Elizabeth De Lima sold 25,342 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of C$88.73, for a total transaction of C$2,248,595.66. Following the sale, the insider owned 18,490 shares of the company’s stock, valued at approximately C$1,640,617.70. The trade was a 57.82% decrease in their position. Corporate insiders own 0.03% of the company’s stock.

About TC Energy

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.