TC Energy Co. (TSE:TRP) Receives Average Rating of “Hold” from Brokerages

TC Energy Co. (TSE:TRP) (NYSE:TRP) has been assigned an average rating of “Hold” from the fifteen brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$69.77.

TRP has been the subject of a number of research analyst reports. BMO Capital Markets boosted their price target on TC Energy from C$70.00 to C$73.00 in a report on Friday, November 29th. Jefferies Financial Group boosted their target price on shares of TC Energy from C$64.00 to C$65.00 in a research note on Wednesday, November 20th. CIBC increased their target price on shares of TC Energy from C$67.00 to C$68.00 in a report on Wednesday, November 20th. Scotiabank lifted their price target on shares of TC Energy from C$74.00 to C$75.00 in a report on Wednesday, November 20th. Finally, Barclays increased their price objective on shares of TC Energy from C$67.00 to C$74.00 in a research note on Wednesday, November 20th.

TC Energy Price Performance

Shares of TRP stock opened at C$65.22 on Friday. The firm has a fifty day moving average of C$66.65 and a two-hundred day moving average of C$60.77. The firm has a market cap of C$67.83 billion, a P/E ratio of 19.70, a P/E/G ratio of 1.69 and a beta of 0.82. TC Energy has a 1-year low of C$43.83 and a 1-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.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of C$3.90 billion. As a group, research analysts anticipate 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. 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 dividend yield of 6.83%. The ex-dividend date is Tuesday, December 31st. This is a positive change 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

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was acquired at an average cost of C$63.06 per share, with a total value of C$34,367.70. Also, Director Richard Prior sold 18,068 shares of TC Energy stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total transaction of C$1,138,284.00. Insiders have sold a total of 433,979 shares of company stock valued at $29,064,889 over the last quarter. 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.