TC Energy (TSE:TRP) Stock Rating Lowered by Canadian Imperial Bank of Commerce

TC Energy (TSE:TRP) (NYSE:TRP) was downgraded by investment analysts at Canadian Imperial Bank of Commerce from an “outperform” rating to a “hold” rating in a research note issued to investors on Tuesday, MarketBeat reports. They presently have a C$85.00 target price on the stock, up from their previous target price of C$81.00. Canadian Imperial Bank of Commerce’s target price suggests a potential upside of 0.62% from the stock’s previous close.

A number of other analysts have also recently weighed in on TRP. Royal Bank Of Canada increased their price objective on TC Energy from C$84.00 to C$92.00 and gave the stock an “outperform” rating in a research report on Tuesday. National Bank Financial increased their price target on TC Energy from C$76.00 to C$85.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. BMO Capital Markets raised shares of TC Energy from a “hold” rating to an “outperform” rating and boosted their price objective for the company from C$73.00 to C$83.00 in a research note on Friday, November 7th. TD Securities cut their price objective on shares of TC Energy from C$81.00 to C$80.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Finally, Raymond James Financial raised their target price on shares of TC Energy from C$71.00 to C$74.00 and gave the stock a “hold” rating in a research note on Tuesday. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and a consensus price target of C$84.00.

TC Energy Stock Down 0.5%

Shares of TSE:TRP opened at C$84.48 on Tuesday. TC Energy has a 1-year low of C$62.17 and a 1-year high of C$86.97. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40. The stock has a market cap of C$87.93 billion, a P/E ratio of 25.83, a P/E/G ratio of 1.69 and a beta of 0.86. The firm has a fifty day moving average price of C$77.73 and a 200 day moving average price of C$74.56.

TC Energy (TSE:TRP) (NYSE:TRP) last posted 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 company had revenue of C$4.17 billion for the quarter. Sell-side analysts predict that TC Energy will post 3.5490515 EPS for the current year.

Key Headlines Impacting TC Energy

Here are the key news stories impacting TC Energy this week:

• Positive Sentiment: Scotiabank raised its price target to C$93.00 and put an “outperform” rating on TRP — a sizable bullish signal that implies meaningful upside from current levels. Scotiabank Raise
• Positive Sentiment: Royal Bank of Canada raised its target to C$92.00 and kept an “outperform” rating, another supportive institutional view that could underpin the stock if energy fundamentals remain steady. RBC Raise
• Positive Sentiment: Jefferies bumped its target to C$88.00, trimming some uncertainty and providing modest upside potential. Jefferies Raise
• Neutral Sentiment: National Bank Financial raised its target to C$86.00 but kept a “hold” rating — a marginally positive tweak that is unlikely to move consensus materially. National Bank Update
• Neutral Sentiment: Coverage pieces explaining the wave of analyst activity and how broker rating changes affect markets provide context for today’s move — helpful for investors trying to parse noisy commentary. Globe and Mail: Analysts Offer Insights
• Neutral Sentiment: An explainer on why brokerage rating shifts move markets gives investors background on the mechanics behind the volatility; it reinforces that the price action is reactionary to guidance rather than new company fundamentals. Kalkine: Ratings Shift Explainer
• Negative Sentiment: Raymond James raised its target to C$74.00 but keeps a “hold” rating — that target sits well below the market and signals downside risk per that broker’s view. Raymond James Update
• Negative Sentiment: ATB Cormark raised its target to C$80.00 with a “sector perform” call; the revised target implies downside versus current prices and may weigh on momentum. ATB Cormark Update
• Negative Sentiment: CIBC downgraded TRP from “outperform” to “hold” (target C$85.00) and TD Securities cut from “buy” to “hold” (target C$88.00) — these downgrades reduce buy-side conviction and increase near-term selling pressure. CIBC / TD Downgrades

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.