TC Energy (TSE:TRP) Stock Price Expected to Rise, National Bankshares Analyst Says

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective lifted by National Bankshares from C$60.00 to C$70.00 in a research note released on Friday morning,BayStreet.CA reports.

A number of other research firms have also recently issued reports on TRP. Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and raised their price target for the stock from C$62.00 to C$78.00 in a report on Friday, October 25th. Barclays lifted their price target on TC Energy from C$66.00 to C$67.00 in a research report on Monday, October 21st. Scotiabank increased their price objective on TC Energy from C$68.00 to C$74.00 in a report on Friday. Jefferies Financial Group lifted their target price on TC Energy from C$57.00 to C$66.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada upped their target price on TC Energy from C$67.00 to C$71.00 in a research report on Friday. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TC Energy has an average rating of “Hold” and an average target price of C$66.15.

TC Energy Stock Up 1.9 %

Shares of TRP stock opened at C$69.10 on Friday. The stock’s fifty day moving average price is C$63.74 and its 200 day moving average price is C$57.73. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. TC Energy has a 1-year low of C$43.83 and a 1-year high of C$69.61. The company has a market cap of C$71.86 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.97 by C$0.06. The business had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. On average, research analysts expect that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

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

Insider Buying and Selling at TC Energy

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were purchased at an average price of C$63.06 per share, for a total transaction of C$34,367.70. In related news, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average cost of C$63.06 per share, with a total value of C$34,367.70. Also, Director Richard Prior sold 3,000 shares of the business’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 value of C$132,000.00. Over the last three months, insiders have sold 74,914 shares of company stock valued at $4,632,785. Company insiders own 0.03% of the company’s stock.

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.