Barclays Raises TC Energy (TSE:TRP) Price Target to C$67.00

TC Energy (TSE:TRP) (NYSE:TRP) had its target price upped by Barclays from C$66.00 to C$67.00 in a research note issued to investors on Monday, BayStreet.CA reports.

TRP has been the subject of a number of other reports. Veritas raised shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. BMO Capital Markets dropped their price target on TC Energy from C$65.00 to C$55.00 and set a “market perform” rating on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price objective on TC Energy from C$66.00 to C$60.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. Finally, CIBC cut their target price on TC Energy from C$62.00 to C$57.00 and set a “negative” rating on the stock in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, TC Energy currently has an average rating of “Hold” and an average price target of C$60.58.

TC Energy Price Performance

TC Energy has a 1-year low of C$42.45 and a 1-year high of C$66.70. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. The company has a market capitalization of C$67.68 billion, a PE ratio of 19.66, a PEG ratio of 1.69 and a beta of 0.82. The company has a 50-day moving average of C$62.62 and a 200 day moving average of C$56.49.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.89 by C$0.05. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The firm had revenue of C$4.09 billion during the quarter, compared to analyst estimates of C$3.78 billion. On average, analysts forecast that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Announces Dividend

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

Insider Activity at TC Energy

In other TC Energy news, Director Colin Lindley sold 2,773 shares of the 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 sale, the director now owns 697 shares in the company, valued at C$41,413.16. This represents a 0.00 % decrease in their position. In related news, Director Jawad Masud sold 6,041 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$63.50, for a total value of C$383,603.50. Also, 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 transaction of C$164,761.40. Following the transaction, the director now directly owns 697 shares in the company, valued at approximately C$41,413.16. The trade was a 0.00 % decrease in their position. Over the last three months, insiders have sold 95,479 shares of company stock valued at $5,860,018. Corporate insiders own 0.03% of the company’s stock.

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.