TC Energy (TSE:TRP) Upgraded by Canadian Imperial Bank of Commerce to Outperform Rating

Canadian Imperial Bank of Commerce upgraded shares of TC Energy (TSE:TRP) (NYSE:TRP) from a neutral rating to an outperform rating in a research note published on Thursday morning, Marketbeat.com reports. The firm currently has C$89.00 target price on the stock, up from their previous target price of C$85.00.

TRP has been the topic of several other research reports. Citigroup upped their price objective on TC Energy from C$86.00 to C$95.00 and gave the company a “neutral” rating in a research note on Tuesday, March 31st. ATB Cormark Capital Markets upped their target price on TC Energy from C$73.00 to C$80.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 17th. Raymond James Financial upped their target price on TC Energy from C$74.00 to C$78.00 in a research report on Monday, March 30th. National Bank Financial upped their target price on TC Energy from C$85.00 to C$86.00 and gave the company a “hold” rating in a research report on Tuesday, February 17th. Finally, Royal Bank Of Canada upped their target price on TC Energy from C$84.00 to C$92.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, TC Energy presently has an average rating of “Hold” and an average target price of C$84.67.

TC Energy Price Performance

TSE:TRP opened at C$83.43 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.63 and a debt-to-equity ratio of 223.25. The stock’s 50 day moving average price is C$86.54 and its two-hundred day moving average price is C$79.32. The firm has a market capitalization of C$86.91 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 1.69 and a beta of 0.72. TC Energy has a 12-month low of C$63.34 and a 12-month high of C$90.27.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings data on Friday, February 13th. The company reported C$0.98 earnings per share (EPS) for the quarter. The firm had revenue of C$4.17 billion for the quarter. TC Energy had a return on equity of 12.80% and a net margin of 23.23%. On average, analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current year.

Insider Activity at TC Energy

In other news, insider Dawn Elizabeth De Lima sold 25,342 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of C$88.73, for a total value of C$2,248,595.66. Following the transaction, the insider owned 18,490 shares of the company’s stock, valued at approximately C$1,640,617.70. This represents a 57.82% decrease in their ownership of the stock. 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.