TC Energy (TSE:TRP) Downgraded by Canadian Imperial Bank of Commerce to “Neutral”

TC Energy (TSE:TRP) (NYSE:TRP) was downgraded by stock analysts at Canadian Imperial Bank of Commerce from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday,BayStreet.CA reports. They presently have a C$85.00 price target on the stock, up from their prior price target of C$81.00. Canadian Imperial Bank of Commerce’s price objective would suggest a potential upside of 0.15% from the company’s current price.

Several other research firms have also recently weighed in on TRP. Raymond James Financial boosted their price target on TC Energy from C$71.00 to C$74.00 and gave the stock a “market perform” rating in a report on Tuesday. Scotiabank boosted their price target on TC Energy from C$81.00 to C$86.00 in a research note on Friday, January 16th. BMO Capital Markets raised TC Energy from a “hold” rating to an “outperform” rating and upped their price target for the stock from C$73.00 to C$83.00 in a research note on Friday, November 7th. Jefferies Financial Group upped their target price on TC Energy from C$74.00 to C$80.00 in a research report on Wednesday, February 4th. Finally, National Bank Financial boosted their price target on shares of TC Energy from C$76.00 to C$85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, TC Energy presently has an average rating of “Hold” and an average target price of C$84.00.

TC Energy Price Performance

TC Energy stock traded down C$1.65 during mid-day trading on Tuesday, reaching C$84.87. 2,107,940 shares of the company were exchanged, compared to its average volume of 4,875,110. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40. TC Energy has a 12 month low of C$62.17 and a 12 month high of C$86.97. The firm has a market cap of C$88.35 billion, a PE ratio of 25.95, a PEG ratio of 1.69 and a beta of 0.86. The company has a fifty day simple moving average of C$77.33 and a 200-day simple moving average of C$74.36.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings data on Friday, February 13th. The company reported C$0.98 earnings per share (EPS) for the quarter. TC Energy had a net margin of 32.39% and a return on equity of 17.25%. The firm had revenue of C$4.17 billion for the quarter. As a group, equities research analysts expect that TC Energy will post 3.5490515 earnings per share for the current fiscal 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. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.