TC Energy Co. (TSE:TRP) Receives C$69.77 Average PT from Analysts

TC Energy Co. (TSE:TRP) (NYSE:TRP) has been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$71.62.

A number of brokerages have recently weighed in on TRP. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Royal Bank of Canada lifted their price target on TC Energy from C$67.00 to C$71.00 in a report on Friday, November 8th. JPMorgan Chase & Co. increased their price objective on TC Energy from C$70.00 to C$79.00 in a report on Monday, November 18th. TD Securities set a C$73.00 target price on TC Energy and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their price target on shares of TC Energy from C$74.00 to C$76.00 in a research note on Wednesday, November 20th.

Insider Buying and Selling at TC Energy

In other news, Director Colin Lindley sold 3,194 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of C$68.70, for a total value of C$219,425.56. Following the completion of the transaction, the director now owns 697 shares in the company, valued at C$47,883.41. This trade represents a 82.09 % decrease in their position. Also, Senior Officer Nancy Angenita Johnson sold 3,328 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of C$67.75, for a total transaction of C$225,472.00. In the last 90 days, insiders have sold 420,911 shares of company stock valued at $28,259,105. 0.03% of the stock is owned by corporate insiders.

TC Energy Price Performance

TC Energy stock opened at C$67.16 on Thursday. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. TC Energy has a 52-week low of C$43.83 and a 52-week high of C$70.32. The firm has a market cap of C$69.85 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The company’s 50 day moving average is C$67.62 and its two-hundred day moving average is C$62.66.

TC Energy (TSE:TRP) (NYSE:TRP) last released its earnings results on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, topping the consensus estimate of C$0.97 by C$0.06. The firm had revenue of C$4.08 billion during the quarter, compared to analysts’ expectations of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. On average, research analysts expect that TC Energy will post 3.5490515 EPS 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. Investors of record on Tuesday, December 31st will be given a $1.113 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $4.45 dividend on an annualized basis and a yield of 6.63%. This is an increase from TC Energy’s previous quarterly dividend of $0.96. TC Energy’s dividend payout ratio (DPR) 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.