TC Energy (TSE:TRP) Price Target Raised to C$60.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target upped by ATB Capital from C$56.00 to C$60.00 in a research note published on Tuesday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

TRP has been the topic of several other reports. Jefferies Financial Group boosted their price target on TC Energy from C$52.00 to C$57.00 and gave the company a hold rating in a research note on Monday, July 29th. Wells Fargo & Company boosted their target price on shares of TC Energy from C$59.00 to C$64.00 in a research report on Tuesday, June 4th. Scotiabank reduced their price target on shares of TC Energy from C$68.00 to C$62.00 and set an outperform rating for the company in a report on Friday, August 2nd. BMO Capital Markets lifted their price target on shares of TC Energy from C$57.00 to C$65.00 in a research note on Thursday, September 5th. Finally, Barclays raised their target price on TC Energy from C$61.00 to C$64.00 in a research note on Monday, August 19th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of C$58.69.

TC Energy Stock Up 1.1 %

TC Energy stock opened at C$63.27 on Tuesday. The firm has a market cap of C$65.80 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 0.26 and a beta of 0.82. TC Energy has a 52-week low of C$44.70 and a 52-week high of C$64.28. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. The firm has a 50 day moving average price of C$59.08 and a two-hundred day moving average price of C$54.79.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.89 by C$0.05. The firm had revenue of C$4.09 billion during the quarter, compared to the consensus estimate of C$3.78 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. Equities analysts predict that TC Energy will post 4.4633124 EPS for the current year.

TC Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 6.07%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is presently 116.01%.

Insider Activity

In other TC Energy news, Senior Officer Patrick M. Keys sold 17,127 shares of TC Energy stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of C$62.71, for a total transaction of C$1,074,049.58. In other TC Energy news, Senior Officer Patrick M. Keys sold 17,127 shares of TC Energy stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of C$62.71, for a total transaction of C$1,074,049.58. Also, Senior Officer Christine R. Johnston sold 16,292 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of C$59.71, for a total value of C$972,795.32. Following the completion of the transaction, the insider now directly owns 466 shares of the company’s stock, valued at C$27,824.86. Insiders have sold 65,152 shares of company stock worth $3,945,326 over the last 90 days. 0.04% of the stock is currently owned by corporate 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.