Brokerages Set TC Energy Co. (TSE:TRP) Price Target at C$59.31

Shares of TC Energy Co. (TSE:TRP) (NYSE:TRP) have earned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$59.23.

TRP has been the topic of several recent research reports. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday. National Bankshares reduced their price objective on TC Energy from C$65.00 to C$60.00 and set an “outperform” rating for the company in a research note on Thursday. BMO Capital Markets lowered their target price on TC Energy from C$65.00 to C$55.00 and set a “market perform” rating on the stock in a research report on Wednesday. Scotiabank cut their price target on TC Energy from C$62.00 to C$61.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Finally, Barclays raised their price objective on TC Energy from C$61.00 to C$64.00 in a research note on Monday, August 19th.

TC Energy Price Performance

TRP opened at C$60.12 on Tuesday. The company’s 50-day simple moving average is C$61.41 and its two-hundred day simple moving average is C$55.64. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. The stock has a market capitalization of C$62.52 billion, a P/E ratio of 18.16, a P/E/G ratio of 0.26 and a beta of 0.82. TC Energy has a 52-week low of C$44.70 and a 52-week high of C$65.39.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.89 by C$0.05. The business had revenue of C$4.09 billion during the quarter, compared to analyst estimates of C$3.78 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. As a group, analysts predict that TC Energy will post 4.4244068 EPS for the current year.

TC Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a $0.96 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 6.39%. TC Energy’s payout ratio is currently 116.01%.

Insider Activity

In other news, Director Colin Lindley sold 2,773 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 directly owns 697 shares of the company’s stock, valued at approximately C$41,413.16. In other news, Director Colin Lindley sold 2,773 shares of the 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 owns 697 shares of the company’s stock, valued at C$41,413.16. Also, Senior Officer Christine R. Johnston sold 16,292 shares of TC Energy stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of C$59.71, for a total transaction of C$972,795.32. Following the transaction, the insider now directly owns 466 shares of the company’s stock, valued at C$27,824.86. In the last three months, insiders have sold 95,479 shares of company stock worth $5,860,018. 0.04% of the stock is currently owned by corporate 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.