TC Energy (TSE:TRP) Price Target Raised to C$73.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target lifted by BMO Capital Markets from C$70.00 to C$73.00 in a research note published on Friday,BayStreet.CA reports.

A number of other brokerages also recently weighed in on TRP. Royal Bank of Canada boosted their price target on TC Energy from C$67.00 to C$71.00 in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their target price on shares of TC Energy from C$70.00 to C$79.00 in a research note on Monday, November 18th. Raymond James upgraded shares of TC Energy to a “hold” rating in a research report on Thursday, November 21st. UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Finally, Morgan Joseph upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from C$62.00 to C$78.00 in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$69.77.

TC Energy Price Performance

TC Energy has a one year low of C$43.83 and a one year high of C$70.32. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. The stock has a market cap of C$70.99 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The business’s 50-day moving average price is C$65.42 and its two-hundred day moving average price is C$59.50.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, topping 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 company had revenue of C$4.08 billion for the quarter, compared to the consensus estimate of C$3.90 billion. Analysts forecast that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business 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 dividend of $1.113 per share. This represents a $4.45 annualized dividend and a yield of ∞. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.96. TC Energy’s payout ratio is presently 116.01%.

Insiders Place Their Bets

In related news, Senior Officer Patrick M. Keys sold 17,127 shares of TC Energy stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of C$62.71, for a total transaction of C$1,074,049.58. Also, Director Jawad Masud sold 6,041 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$63.50, for a total value of C$383,603.50. In the last three months, insiders have sold 207,976 shares of company stock worth $13,899,631. Corporate 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.