TC Energy (TSE:TRP) Price Target Raised to C$65.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective lifted by BMO Capital Markets from C$57.00 to C$65.00 in a report issued on Thursday, BayStreet.CA reports.

A number of other equities analysts also recently issued reports on the stock. Scotiabank decreased their price target on shares of TC Energy from C$68.00 to C$62.00 and set an outperform rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company upped their target price on shares of TC Energy from C$59.00 to C$64.00 in a research report on Tuesday, June 4th. Jefferies Financial Group lifted their price target on shares of TC Energy from C$52.00 to C$57.00 and gave the company a hold rating in a research report on Monday, July 29th. National Bankshares raised their price objective on TC Energy from C$60.00 to C$65.00 and gave the company an outperform rating in a research report on Friday, August 23rd. Finally, ATB Capital boosted their target price on TC Energy from C$54.00 to C$56.00 in a report on Wednesday, July 24th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of C$58.38.

TC Energy Stock Performance

TC Energy stock opened at C$63.34 on Thursday. TC Energy has a 1-year low of C$44.70 and a 1-year high of C$63.84. The firm has a market cap of C$65.87 billion, a P/E ratio of 19.14, a P/E/G ratio of 0.26 and a beta of 0.81. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. The firm has a 50-day moving average of C$57.98 and a 200-day moving average of C$54.48.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, beating the consensus estimate of C$0.89 by C$0.05. The business had revenue of C$4.09 billion for the quarter, compared to analysts’ expectations of C$3.78 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. Sell-side analysts expect that TC Energy will post 4.3133803 EPS for the current year.

TC Energy Dividend Announcement

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 issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is presently 116.01%.

Insider Activity at TC Energy

In other 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 transaction, the director now owns 697 shares in the company, valued at approximately C$41,413.16. In related news, Senior Officer Christine R. Johnston sold 16,292 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of C$59.71, for a total value of C$972,795.32. Following the completion of the sale, the insider now directly owns 466 shares of the company’s stock, valued at approximately C$27,824.86. Also, Director Colin Lindley sold 2,773 shares of TC Energy 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. Insiders have sold a total of 65,152 shares of company stock worth $3,945,326 over the last quarter. Company insiders own 0.04% of the company’s stock.

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.