TC Energy (TSE:TRP) Given New C$60.00 Price Target at National Bankshares

TC Energy (TSE:TRP) (NYSE:TRP) had its price target cut by National Bankshares from C$65.00 to C$60.00 in a research report released on Thursday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research analysts have also recently commented on the stock. Scotiabank lowered their target price on shares of 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. BMO Capital Markets dropped their price objective on TC Energy from C$65.00 to C$55.00 and set a market perform rating for the company in a report on Wednesday, October 2nd. UBS Group raised TC Energy from a hold rating to a strong-buy rating in a report on Monday, September 30th. Barclays raised their target price on shares of TC Energy from C$61.00 to C$64.00 in a report on Monday, August 19th. Finally, Jefferies Financial Group increased their price target on shares of TC Energy from C$57.00 to C$66.00 and gave the stock a hold rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of C$59.23.

TC Energy Stock Performance

TSE:TRP opened at C$61.22 on Thursday. The stock has a 50 day simple moving average of C$61.41 and a 200 day simple moving average of C$55.64. The stock has a market cap of C$63.67 billion, a P/E ratio of 18.50, a PEG ratio of 0.26 and a beta of 0.82. TC Energy has a 1-year low of C$44.70 and a 1-year high of C$65.39. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, topping 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 company had revenue of C$4.09 billion during the quarter, compared to the consensus estimate of C$3.78 billion. Research analysts anticipate that TC Energy will post 4.4244068 earnings per share for the current year.

TC Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.84 dividend on an annualized basis and a yield of 6.27%. TC Energy’s payout ratio is 116.01%.

Insider Transactions at TC Energy

In other news, Director Colin Lindley sold 2,773 shares of the company’s stock in a transaction 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 sale, the director now directly owns 697 shares of the company’s stock, valued at approximately C$41,413.16. This represents a 0.00 % decrease in their position. In related news, Director Rosemary K. Stevens sold 1,200 shares of the stock in a transaction 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 directly owns 987 shares of the company’s stock, valued at C$59,101.56. This represents a 0.00 % decrease in their ownership of the stock. Also, Director Colin Lindley sold 2,773 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the completion of the sale, the director now owns 697 shares of the company’s stock, valued at C$41,413.16. The trade was a 0.00 % decrease in their ownership of the stock. Insiders sold 95,479 shares of company stock worth $5,860,018 over the last ninety days. 0.04% of the stock is owned by 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.