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

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective boosted by Jefferies Financial Group from C$64.00 to C$65.00 in a report released on Wednesday morning,BayStreet.CA reports.

Several other research firms have also recently commented on TRP. JPMorgan Chase & Co. boosted their price target on shares of TC Energy from C$70.00 to C$79.00 in a report on Monday, November 18th. Wells Fargo & Company boosted their target price on shares of TC Energy from C$74.00 to C$76.00 in a research note on Wednesday. ATB Capital raised their price target on TC Energy from C$64.00 to C$65.00 in a research note on Friday, November 8th. BMO Capital Markets lifted their price target on TC Energy from C$55.00 to C$66.00 in a report on Friday, November 8th. Finally, Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$69.54.

TC Energy Trading Down 0.7 %

TSE:TRP opened at C$69.65 on Wednesday. TC Energy has a 12-month low of C$43.83 and a 12-month high of C$70.32. The firm has a market cap of C$72.44 billion, a PE ratio of 21.04, a price-to-earnings-growth 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. The stock has a fifty day moving average price of C$65.01 and a 200 day moving average price of C$59.04.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.97 by C$0.06. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The business had revenue of C$4.08 billion during the quarter, compared to analysts’ expectations of C$3.90 billion. Sell-side analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $1.113 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $4.45 dividend on an annualized basis and a yield of 6.39%. This is a boost from TC Energy’s previous quarterly dividend of $0.96. TC Energy’s payout ratio is currently 116.01%.

Insider Transactions at TC Energy

In other TC Energy news, Director Trevor Ebl sold 9,554 shares of TC Energy stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of C$68.48, for a total value of C$654,219.70. Also, Director Mark Yeomans sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of C$61.58, for a total value of C$400,297.95. Over the last ninety days, insiders have sold 214,476 shares of company stock worth $14,299,929. Insiders own 0.03% 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.