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

Shares of TC Energy Co. (TSE:TRP) (NYSE:TRP) have been assigned an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$69.54.

Several equities research analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of TC Energy from C$64.00 to C$65.00 in a research report on Wednesday, November 20th. Raymond James upgraded TC Energy to a “hold” rating in a report on Thursday, November 21st. Barclays raised their price target on TC Energy from C$67.00 to C$74.00 in a research note on Wednesday, November 20th. Wells Fargo & Company upped their price objective on TC Energy from C$74.00 to C$76.00 in a research note on Wednesday, November 20th. Finally, National Bankshares raised their target price on shares of TC Energy from C$70.00 to C$71.00 in a research note on Wednesday, November 20th.

Insider Buying and Selling

In related news, Director Trevor Ebl sold 9,554 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of C$68.48, for a total value of C$654,219.70. Also, Director Greg Grant sold 12,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of C$62.62, for a total transaction of C$751,384.80. In the last ninety days, insiders sold 214,476 shares of company stock valued at $14,299,929. Insiders own 0.03% of the company’s stock.

TC Energy Stock Down 0.1 %

TSE:TRP opened at C$68.54 on Wednesday. The stock has a 50-day simple moving average of C$65.23 and a 200 day simple moving average of C$59.28. TC Energy has a 52-week low of C$43.83 and a 52-week high of C$70.32. The company has a market cap of C$71.28 billion, a PE ratio of 20.71, a PEG ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, topping the consensus estimate of C$0.97 by C$0.06. The company had revenue of C$4.08 billion during the quarter, compared to analysts’ expectations of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. On average, sell-side analysts expect that TC Energy will post 3.5490515 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $1.113 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, December 31st. This represents a $4.45 annualized dividend and a dividend yield of 6.50%. TC Energy’s dividend payout ratio is presently 116.01%.

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.