TC Energy (TSE:TRP) Price Target Lowered to C$62.00 at Scotiabank

TC Energy (TSE:TRP) (NYSE:TRP) had its target price decreased by Scotiabank from C$68.00 to C$62.00 in a research note issued to investors on Friday, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

TRP has been the topic of several other research reports. Jefferies Financial Group lifted their price objective on shares of TC Energy from C$52.00 to C$57.00 and gave the stock a hold rating in a research note on Monday, July 29th. Wells Fargo & Company lifted their price objective on shares of TC Energy from C$59.00 to C$64.00 in a research note on Tuesday, June 4th. CIBC lifted their price objective on shares of TC Energy from C$56.00 to C$59.00 in a research note on Monday, July 15th. JPMorgan Chase & Co. lifted their price objective on shares of TC Energy from C$58.00 to C$59.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. Finally, Barclays upgraded shares of TC Energy from an equal weight rating to an overweight rating and raised their target price for the stock from C$55.00 to C$61.00 in a report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of C$56.73.

TC Energy Stock Down 0.7 %

TC Energy stock opened at C$59.29 on Friday. The stock has a market cap of C$61.66 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 0.26 and a beta of 0.74. The company has a current ratio of 0.94, a quick ratio of 0.40 and a debt-to-equity ratio of 163.01. The company’s 50-day moving average price is C$53.97 and its two-hundred day moving average price is C$52.95. TC Energy has a 52 week low of C$44.70 and a 52 week high of C$59.98.

TC Energy (TSE:TRP) (NYSE:TRP) last released its earnings results on Friday, May 3rd. The company reported C$1.24 EPS for the quarter, beating the consensus estimate of C$1.14 by C$0.10. The firm had revenue of C$4.24 billion for the quarter, compared to analysts’ expectations of C$4.26 billion. TC Energy had a net margin of 17.31% and a return on equity of 8.37%. On average, analysts expect that TC Energy will post 4.1883013 EPS for the current fiscal year.

TC Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 6.48%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio is currently 147.69%.

Insider Buying and Selling

In related news, Director Richard Prior sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of C$40.00, for a total transaction of C$200,000.00. In other TC Energy news, Senior Officer Christine R. Johnston sold 1,330 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of C$53.15, for a total value of C$70,689.50. Following the completion of the sale, the insider now directly owns 466 shares of the company’s stock, valued at C$24,767.90. Also, Director Richard Prior sold 5,000 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of C$40.00, for a total transaction of C$200,000.00. Over the last three months, insiders sold 6,876 shares of company stock worth $299,917. 0.04% of the stock is owned by company insiders.

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.