TC Energy (TSE:TRP) Cut to Hold at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce cut shares of TC Energy (TSE:TRP) (NYSE:TRP) from an outperform rating to a hold rating in a research note issued to investors on Tuesday morning, MarketBeat reports. Canadian Imperial Bank of Commerce currently has C$85.00 target price on the stock, up from their prior target price of C$81.00.

Other equities research analysts have also issued reports about the company. BMO Capital Markets upgraded TC Energy from a “hold” rating to an “outperform” rating and lifted their price target for the company from C$73.00 to C$83.00 in a research report on Friday, November 7th. Jefferies Financial Group raised their price objective on TC Energy from C$74.00 to C$80.00 in a research report on Wednesday, February 4th. Scotiabank boosted their target price on shares of TC Energy from C$81.00 to C$86.00 in a report on Friday, January 16th. National Bank Financial upped 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 research report on Wednesday, December 17th. Finally, TD Securities decreased their price target on shares of TC Energy from C$81.00 to C$80.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$84.00.

TC Energy Price Performance

Shares of TSE TRP opened at C$85.63 on Tuesday. TC Energy has a 1 year low of C$62.17 and a 1 year high of C$86.97. The stock has a market capitalization of C$89.13 billion, a P/E ratio of 26.19, a P/E/G ratio of 1.69 and a beta of 0.86. The company’s 50-day moving average is C$77.95 and its 200 day moving average is C$74.64. 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 (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data on Friday, February 13th. The company reported C$0.98 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$4.17 billion during the quarter. On average, sell-side analysts expect that TC Energy will post 3.5490515 earnings per share 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. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.