TC Energy (TSE:TRP) Price Target Raised to C$66.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target lifted by Jefferies Financial Group from C$57.00 to C$66.00 in a research note published on Monday morning, BayStreet.CA reports. The firm currently has a hold rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Scotiabank cut their price target on shares of TC Energy from C$62.00 to C$61.00 and set an outperform rating on the stock in a report on Wednesday, September 25th. ATB Capital boosted their target price on shares of TC Energy from C$56.00 to C$60.00 and gave the company a sector perform rating in a research note on Tuesday, September 10th. BMO Capital Markets raised their target price on TC Energy from C$57.00 to C$65.00 in a research report on Thursday, September 5th. Barclays lifted their price target on TC Energy from C$61.00 to C$64.00 in a report on Monday, August 19th. Finally, CIBC increased their price objective on TC Energy from C$56.00 to C$59.00 in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of C$59.23.

TC Energy Stock Performance

Shares of TSE TRP opened at C$60.12 on Monday. 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 capitalization of C$62.52 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 0.26 and a beta of 0.82. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. The stock’s fifty day simple moving average is C$61.41 and its 200 day simple moving average is C$55.64.

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. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The firm had revenue of C$4.09 billion for the quarter, compared to analysts’ expectations of C$3.78 billion. As a group, sell-side analysts forecast that TC Energy will post 4.4244068 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently disclosed 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 yield of 6.39%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is presently 116.01%.

Insiders Place Their Bets

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average price of C$63.06 per share, for a total transaction of C$34,367.70. In related news, Director Richard Prior sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of C$44.00, for a total value of C$132,000.00. Also, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of the stock in a transaction on Tuesday, September 24th. The shares were bought at an average price of C$63.06 per share, for a total transaction of C$34,367.70. Insiders sold 95,479 shares of company stock valued at $5,860,018 over the last ninety days. Corporate insiders own 0.04% 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.