TC Energy Co. (TSE:TRP) Receives C$67.62 Consensus Target Price from Brokerages

Shares of TC Energy Co. (TSE:TRP) (NYSE:TRP) have been assigned an average rating of “Hold” from the fourteen research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is C$69.54.

TRP has been the topic of several analyst reports. National Bankshares boosted their price objective on shares of TC Energy from C$70.00 to C$71.00 in a research note on Wednesday. Morgan Joseph upgraded TC Energy from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from C$62.00 to C$78.00 in a research report on Friday, October 25th. BMO Capital Markets lifted their price objective on TC Energy from C$66.00 to C$70.00 in a research note on Wednesday. UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company boosted their price target on shares of TC Energy from C$74.00 to C$76.00 in a research report on Wednesday.

TC Energy Stock Down 0.7 %

Shares of TSE TRP opened at C$69.65 on Wednesday. The company has a market cap of C$72.44 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 1.69 and a beta of 0.82. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. TC Energy has a 12 month low of C$43.83 and a 12 month high of C$70.32. The stock has a 50-day moving average price of C$65.01 and a two-hundred day moving average price of C$59.04.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.97 by C$0.06. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The firm had revenue of C$4.08 billion for the quarter, compared to analysts’ expectations of C$3.90 billion. As a group, analysts forecast that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $1.113 dividend. This represents a $4.45 dividend on an annualized basis and a yield of 6.39%. This is an increase from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio is presently 116.01%.

Insider Activity

In related news, Director Colin Lindley sold 3,194 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of C$68.70, for a total value of C$219,425.56. Following the transaction, the director now owns 697 shares in the company, valued at approximately C$47,883.41. This represents a 82.09 % decrease in their ownership of the stock. Also, Director Lindsay Mackay sold 3,520 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of C$70.00, for a total value of C$246,400.00. Insiders sold a total of 214,476 shares of company stock valued at $14,299,929 over the last three months. Corporate insiders own 0.03% of the company’s stock.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.