TC Energy (TSE:TRP) Shares Down 9.2%

TC Energy Co. (TSE:TRP) (NYSE:TRP) was down 9.2% on Wednesday . The company traded as low as C$59.23 and last traded at C$59.25. Approximately 135,457 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 6,665,483 shares. The stock had previously closed at C$65.26.

Analyst Ratings Changes

TRP has been the topic of several research analyst reports. Scotiabank dropped their price objective on TC Energy from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Barclays lifted their target price on shares of TC Energy from C$61.00 to C$64.00 in a research report on Monday, August 19th. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday. BMO Capital Markets lifted their price objective on TC Energy from C$57.00 to C$65.00 in a report on Thursday, September 5th. Finally, National Bankshares boosted their price target on TC Energy from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, TC Energy presently has an average rating of “Moderate Buy” and a consensus target price of C$59.31.

TC Energy Price Performance

The stock has a market cap of C$61.10 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 0.26 and a beta of 0.82. The stock’s fifty day moving average is C$61.31 and its 200-day moving average is C$55.58. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, beating the consensus estimate of C$0.89 by C$0.05. The firm had revenue of C$4.09 billion for the quarter, compared to analyst estimates of C$3.78 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. As a group, equities analysts anticipate that TC Energy Co. will post 4.4244068 EPS for the current year.

TC Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 6.54%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is presently 116.01%.

Insider Transactions at TC Energy

In other news, Director Colin Lindley sold 2,773 shares of TC Energy stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total value of C$164,761.40. Following the completion of the sale, the director now directly owns 697 shares of the company’s stock, valued at C$41,413.16. In other TC Energy news, Director Colin Lindley sold 2,773 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of C$59.42, for a total value of C$164,761.40. Following the completion of the transaction, the director now owns 697 shares of the company’s stock, valued at approximately C$41,413.16. Also, Senior Officer Christine R. Johnston sold 16,292 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of C$59.71, for a total transaction of C$972,795.32. Following the completion of the transaction, the insider now owns 466 shares of the company’s stock, valued at approximately C$27,824.86. In the last three months, insiders have sold 95,479 shares of company stock worth $5,860,018. 0.04% of the stock is currently owned by insiders.

TC Energy Company Profile

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.