TC Energy (TSE:TRP) Price Target Raised to C$70.00 at BMO Capital Markets

TC Energy (TSE:TRP) (NYSE:TRP) had its target price increased by BMO Capital Markets from C$66.00 to C$70.00 in a research note released on Wednesday morning,BayStreet.CA reports.

A number of other analysts have also recently weighed in on the stock. Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and upped their target price for the company from C$62.00 to C$78.00 in a research note on Friday, October 25th. Barclays lifted their price objective on TC Energy from C$66.00 to C$67.00 in a report on Monday, October 21st. Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Royal Bank of Canada boosted their price target on TC Energy from C$67.00 to C$71.00 in a research note on Friday, November 8th. Finally, CIBC increased their price objective on TC Energy from C$67.00 to C$68.00 in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$69.54.

TC Energy Price Performance

Shares of TRP stock opened at C$69.65 on Wednesday. The company has a market capitalization of C$72.44 billion, a P/E ratio of 21.04, a P/E/G 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. TC Energy has a 12 month low of C$43.83 and a 12 month high of C$70.32. The stock has a 50 day moving average of C$65.01 and a two-hundred day moving average of C$59.09.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its earnings results on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, topping the consensus estimate of C$0.97 by C$0.06. The firm had revenue of C$4.08 billion during the quarter, compared to analysts’ expectations of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. As a group, equities analysts expect that TC Energy will post 3.5490515 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced 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 is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 dividend on an annualized basis and a dividend yield of 6.39%. TC Energy’s payout ratio is currently 116.01%.

Insider Transactions at TC Energy

In other news, Director Mark Yeomans sold 6,500 shares of the company’s stock in a transaction on 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, Director Trevor Ebl sold 9,554 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of C$68.48, for a total value of C$654,219.70. Over the last three months, insiders have sold 214,476 shares of company stock worth $14,299,929. Corporate 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.