TC Energy (TSE:TRP) Price Target Raised to C$74.00 at Scotiabank

TC Energy (TSE:TRP) (NYSE:TRP) had its price target hoisted by Scotiabank from C$68.00 to C$74.00 in a research report sent to investors on Friday,BayStreet.CA reports.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada boosted 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 report on Thursday, October 3rd. Barclays boosted their price objective on shares of TC Energy from C$66.00 to C$67.00 in a report on Monday, October 21st. CIBC reduced their target price on TC Energy from C$62.00 to C$57.00 and set a “negative” rating for the company in a research note on Wednesday, October 2nd. BMO Capital Markets dropped their price target on TC Energy from C$65.00 to C$55.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group raised their price objective on TC Energy from C$57.00 to C$66.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$66.15.

TC Energy Trading Up 1.9 %

TRP opened at C$69.10 on Friday. TC Energy has a 12 month low of C$43.83 and a 12 month high of C$69.61. The stock has a fifty day moving average price of C$63.74 and a 200-day moving average price of C$57.73. The firm has a market cap of C$71.86 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 1.69 and a beta of 0.82. 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 quarterly earnings data on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, topping the consensus estimate of C$0.97 by C$0.06. The firm had revenue of C$4.08 billion during the quarter, compared to analyst estimates of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. As a group, equities research analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $1.113 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 annualized dividend and a yield of 6.44%. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is presently 116.01%.

Insider Transactions at TC Energy

In other TC Energy news, Director Richard Prior sold 3,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of C$44.00, for a total transaction of C$132,000.00. In other news, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were bought at an average price of C$63.06 per share, for a total transaction of C$34,367.70. Also, Director Richard Prior sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of C$44.00, for a total transaction of C$132,000.00. Insiders sold a total of 74,914 shares of company stock valued at $4,632,785 in the last three months. 0.03% of the stock is currently 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.