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

TC Energy (TSE:TRP) (NYSE:TRP) had its target price raised by Scotiabank from C$74.00 to C$75.00 in a report released on Wednesday morning,BayStreet.CA reports.

Several other research analysts also recently commented on the stock. National Bankshares boosted their price objective on shares of TC Energy from C$60.00 to C$70.00 in a research report on Friday, November 8th. Jefferies Financial Group boosted their price target 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. UBS Group upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Royal Bank of Canada lifted their target price on TC Energy from C$67.00 to C$71.00 in a research report on Friday, November 8th. Finally, Veritas raised shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$69.54.

TC Energy Stock Down 0.7 %

Shares of TSE TRP opened at C$69.65 on Wednesday. The stock has a market capitalization of C$72.44 billion, a P/E ratio of 21.04, a PEG ratio of 1.69 and a beta of 0.82. The stock’s fifty day moving average is C$65.01 and its 200 day moving average is C$59.09. TC Energy has a 52 week low of C$43.83 and a 52 week high of C$70.32. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76.

TC Energy (TSE:TRP) (NYSE:TRP) last released its earnings results 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 firm had revenue of C$4.08 billion for 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%. Sell-side analysts forecast that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 6.39%. This is a positive change from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s payout ratio is presently 116.01%.

Insider Buying and Selling at TC Energy

In other news, Director Mark Yeomans sold 6,500 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of C$61.58, for a total transaction of C$400,297.95. Also, Senior Officer Patrick M. Keys sold 17,127 shares of TC Energy stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of C$62.71, for a total value of C$1,074,049.58. In the last ninety days, insiders sold 214,476 shares of company stock worth $14,299,929. 0.03% of the stock is currently owned by company 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.