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

TC Energy (TSE:TRP) (NYSE:TRP) had its price target increased by Barclays from C$67.00 to C$74.00 in a research note released on Wednesday morning,BayStreet.CA reports.

A number of other brokerages have also weighed in on TRP. National Bankshares boosted their price objective on TC Energy from C$70.00 to C$71.00 in a research report on Wednesday. ATB Capital boosted their price target on TC Energy from C$64.00 to C$65.00 in a report on Friday, November 8th. Royal Bank of Canada upped their price objective on TC Energy from C$67.00 to C$71.00 in a research note on Friday, November 8th. CIBC lifted their target price on shares of TC Energy from C$67.00 to C$68.00 in a research report on Wednesday. Finally, BMO Capital Markets upped their price target on shares of TC Energy from C$66.00 to C$70.00 in a research report on Wednesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$69.54.

TC Energy Stock Performance

TSE:TRP opened at C$69.65 on Wednesday. TC Energy has a twelve month low of C$43.83 and a twelve month high of C$70.32. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. The stock’s 50-day simple moving average is C$65.01 and its 200 day simple moving average is C$59.04. The firm has a market capitalization 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.

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

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $1.113 per share. This represents a $4.45 dividend on an annualized basis and a yield of 6.39%. 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 dividend payout ratio (DPR) is currently 116.01%.

Insider Buying and Selling at TC Energy

In related news, Director Lindsay Mackay sold 3,520 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of C$70.00, for a total transaction of C$246,400.00. Also, Director Colin Lindley sold 3,194 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of C$68.70, for a total transaction of C$219,425.56. Following the transaction, the director now directly owns 697 shares in the company, valued at approximately C$47,883.41. This represents a 82.09 % decrease in their ownership of the stock. Over the last quarter, insiders have sold 214,476 shares of company stock valued at $14,299,929. 0.03% of the stock is currently owned by 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.