TC Energy Co. (TSE:TRP) Receives C$69.77 Consensus Price Target from Brokerages

TC Energy Co. (TSE:TRP) (NYSE:TRP) has been given a consensus recommendation of “Hold” by the fifteen brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$69.92.

A number of brokerages recently commented on TRP. UBS Group raised TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Wells Fargo & Company increased their price target on TC Energy from C$74.00 to C$76.00 in a research report on Wednesday, November 20th. Morgan Joseph raised TC Energy from an “underweight” rating to an “overweight” rating and increased their price objective for the company from C$62.00 to C$78.00 in a report on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on TC Energy from C$70.00 to C$79.00 in a report on Monday, November 18th. Finally, Raymond James raised TC Energy to a “hold” rating in a report on Thursday, November 21st.

Insider Buying and Selling at TC Energy

In related news, Director Trevor Ebl sold 9,554 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of C$68.48, for a total value of C$654,219.70. Also, Senior Officer Nancy Angenita Johnson sold 3,328 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of C$67.75, for a total value of C$225,472.00. Insiders have sold 420,911 shares of company stock worth $28,259,105 over the last 90 days. Corporate insiders own 0.03% of the company’s stock.

TC Energy Stock Down 2.3 %

TRP stock opened at C$67.31 on Thursday. The company has a market cap of C$70.00 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. TC Energy has a fifty-two week low of C$43.83 and a fifty-two week high of C$70.32. The stock’s 50 day simple moving average is C$67.57 and its 200 day simple moving average is C$62.40. 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 issued its quarterly earnings data 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 the consensus estimate of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. On average, research analysts expect that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.113 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $4.45 dividend on an annualized basis and a yield of 6.61%. TC Energy’s dividend payout ratio (DPR) is presently 116.01%.

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.