National Bankshares Forecasts Strong Price Appreciation for TC Energy (TSE:TRP) Stock

TC Energy (TSE:TRP) (NYSE:TRP) had its price target increased by National Bankshares from C$60.00 to C$70.00 in a report issued on Friday,BayStreet.CA reports.

Other analysts have also issued reports about the stock. CIBC decreased their price target on shares of 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. Veritas raised shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Barclays raised their price objective on shares of TC Energy from C$66.00 to C$67.00 in a report on Monday, October 21st. ATB Capital reduced their price objective on shares of TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating for the company in a report on Thursday, October 3rd. Finally, UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, TC Energy has an average rating of “Hold” and an average target price of C$66.15.

TC Energy Stock Performance

TSE:TRP traded down C$1.01 during midday trading on Friday, reaching C$67.82. The stock had a trading volume of 3,536,000 shares, compared to its average volume of 7,012,491. TC Energy has a 1-year low of C$43.83 and a 1-year high of C$69.61. The firm’s fifty day simple moving average is C$63.74 and its 200-day simple moving average is C$57.67. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. The stock has a market capitalization of C$70.53 billion, a P/E ratio of 20.49, a PEG ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, beating 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 business had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. On average, equities research analysts forecast that TC Energy will post 3.5490515 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.113 per share. This is a boost 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 6.56%. TC Energy’s payout ratio is currently 116.01%.

Insider Transactions at TC Energy

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima purchased 555 shares of the stock in a transaction dated Wednesday, September 18th. The stock was bought at an average price of C$62.82 per share, for a total transaction of C$34,865.66. In other news, Senior Officer Dawn Elizabeth De Lima acquired 555 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was purchased at an average price of C$62.82 per share, for a total transaction of C$34,865.66. Also, Director Rosemary K. Stevens sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$59.88, for a total transaction of C$71,856.00. Following the transaction, the director now owns 987 shares of the company’s stock, valued at approximately C$59,101.56. This represents a 0.00 % decrease in their position. Insiders sold a total of 76,114 shares of company stock worth $4,704,641 in the last quarter. 0.03% of the stock is owned by company insiders.

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.