TC Energy (TSE:TRP) Price Target Raised to C$67.00 at Barclays

TC Energy (TSE:TRP) (NYSE:TRP) had its price target increased by Barclays from C$66.00 to C$67.00 in a research report report published on Monday, BayStreet.CA reports.

TRP has been the subject of several other reports. Jefferies Financial Group lifted their target price on TC Energy from C$57.00 to C$66.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Royal Bank of Canada upped their target price on shares of TC Energy from C$66.00 to C$67.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Scotiabank cut their price objective on TC Energy from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Finally, ATB Capital decreased their target price on 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$60.58.

TC Energy Price Performance

TC Energy stock opened at C$65.53 on Monday. 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 company has a market capitalization of C$68.15 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The company’s 50 day simple moving average is C$62.41 and its 200-day simple moving average is C$56.33. TC Energy has a 1 year low of C$41.86 and a 1 year high of C$66.70.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 EPS 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 for the quarter, compared to analysts’ expectations of C$3.78 billion. As a group, equities research analysts expect that TC Energy will post 3.5490515 earnings per share for the current year.

TC Energy Announces Dividend

The firm 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 $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is 116.01%.

Insiders Place Their Bets

In related news, Director Richard Prior sold 18,068 shares of TC Energy stock in a transaction on Monday, September 23rd. The shares were sold at an average price of C$63.00, for a total transaction of C$1,138,284.00. In related news, Director Richard Prior sold 18,068 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total transaction of C$1,138,284.00. Also, Senior Officer Christine R. Johnston sold 16,292 shares of TC Energy stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of C$59.71, for a total value of C$972,795.32. Following the transaction, the insider now directly owns 466 shares in the company, valued at approximately C$27,824.86. This trade represents a 0.00 % decrease in their position. Over the last quarter, insiders have sold 95,479 shares of company stock valued at $5,860,018. 0.03% of the stock is owned by corporate 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.