TC Energy (TSE:TRP) Price Target Raised to C$81.00 at CIBC

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective lifted by equities research analysts at CIBC from C$78.00 to C$81.00 in a note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 8.67% from the company’s current price.

A number of other research firms also recently issued reports on TRP. Barclays lifted their price objective on TC Energy from C$75.00 to C$80.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Cibc Captl Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Jefferies Financial Group upped their price target on shares of TC Energy from C$73.00 to C$74.00 in a research note on Tuesday, November 11th. Royal Bank Of Canada lifted their price objective on shares of TC Energy from C$74.00 to C$84.00 in a research note on Friday, November 7th. Finally, National Bankshares boosted their target price on shares of TC Energy from C$76.00 to C$85.00 and gave the stock an “outperform” rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$79.40.

TC Energy Price Performance

TRP traded up C$0.71 during trading on Wednesday, reaching C$74.54. 604,693 shares of the company traded hands, compared to its average volume of 5,739,302. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. TC Energy has a 12-month low of C$62.17 and a 12-month high of C$77.73. The firm has a fifty day simple moving average of C$73.96 and a 200 day simple moving average of C$70.80. The company has a market cap of C$77.60 billion, a P/E ratio of 22.80, a PEG ratio of 1.69 and a beta of 0.90.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings data on Thursday, November 6th. The company reported C$0.77 EPS for the quarter. TC Energy had a net margin of 32.39% and a return on equity of 17.25%. The business had revenue of C$3.70 billion during the quarter. On average, equities analysts forecast that TC Energy will post 3.5490515 EPS for the current year.

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.