TC Energy (TSE:TRP) PT Lowered to C$55.00 at BMO Capital Markets

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective cut by BMO Capital Markets from C$65.00 to C$55.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. They currently have a market perform rating on the stock.

Several other analysts have also issued reports on the stock. Barclays boosted their target price on shares of TC Energy from C$61.00 to C$64.00 in a research report on Monday, August 19th. Scotiabank cut their price objective on shares of TC Energy from C$62.00 to C$61.00 and set an outperform rating for the company in a research report on Wednesday, September 25th. Jefferies Financial Group raised their target price 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. ATB Capital boosted their price target on TC Energy from C$56.00 to C$60.00 and gave the company a sector perform rating in a report on Tuesday, September 10th. Finally, Wells Fargo & Company raised their price objective on TC Energy from C$59.00 to C$64.00 in a research note on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, TC Energy presently has an average rating of Moderate Buy and an average target price of C$59.23.

TC Energy Price Performance

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 52 week low of C$44.70 and a 52 week high of C$65.39. The stock has a market cap of C$63.67 billion, a P/E ratio of 18.38, a P/E/G ratio of 0.26 and a beta of 0.82. The business has a 50-day moving average price of C$61.41 and a two-hundred day moving average price of C$55.64.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.89 by C$0.05. The business had revenue of C$4.09 billion for the quarter, compared to analysts’ expectations of C$3.78 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. As a group, analysts expect that TC Energy will post 4.4244068 earnings per share for the current year.

TC Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of ∞. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio is currently 116.01%.

Insider Buying and Selling

In related news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was purchased at an average price of C$63.06 per share, for a total transaction of C$34,367.70. In other news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of TC Energy stock in a transaction dated Tuesday, September 24th. The shares were purchased at an average cost of C$63.06 per share, with a total value of C$34,367.70. Also, Director Jawad Masud sold 6,041 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$63.50, for a total value of C$383,603.50. In the last three months, insiders have sold 95,479 shares of company stock valued at $5,860,018. Corporate insiders own 0.04% 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.