TC Energy (TRP) – Analysts’ Recent Ratings Changes

TC Energy (TSE: TRP) has recently received a number of price target changes and ratings updates:

• 10/8/2024 – TC Energy was upgraded by analysts at Veritas Corp to a “strong sell” rating.
• 10/8/2024 – TC Energy had its price target lowered by analysts at JPMorgan Chase & Co. from C$66.00 to C$60.00. They now have a “neutral” rating on the stock.
• 10/3/2024 – TC Energy had its price target lowered by analysts at ATB Capital from C$60.00 to C$58.00. They now have a “sector perform” rating on the stock.
• 10/3/2024 – TC Energy had its price target raised by analysts at Royal Bank of Canada from C$66.00 to C$67.00. They now have an “outperform” rating on the stock.
• 10/3/2024 – TC Energy had its price target lowered by analysts at National Bankshares, Inc. from C$65.00 to C$60.00. They now have an “outperform” rating on the stock.
• 10/2/2024 – TC Energy had its price target lowered by analysts at CIBC from C$62.00 to C$57.00. They now have a “negative” rating on the stock.
• 10/2/2024 – TC Energy had its price target lowered by analysts at BMO Capital Markets from C$65.00 to C$55.00. They now have a “market perform” rating on the stock.
• 9/30/2024 – TC Energy was upgraded by analysts at UBS Group AG from a “hold” rating to a “strong-buy” rating.
• 9/30/2024 – TC Energy had its price target raised by analysts at Jefferies Financial Group Inc. from C$57.00 to C$66.00. They now have a “hold” rating on the stock.
• 9/25/2024 – TC Energy had its price target lowered by analysts at Scotiabank from C$62.00 to C$61.00. They now have an “outperform” rating on the stock.
• 9/10/2024 – TC Energy had its price target raised by analysts at ATB Capital from C$56.00 to C$60.00. They now have a “sector perform” rating on the stock.
• 9/5/2024 – TC Energy had its price target raised by analysts at BMO Capital Markets from C$57.00 to C$65.00.
• 8/23/2024 – TC Energy had its price target raised by analysts at National Bankshares, Inc. from C$60.00 to C$65.00. They now have an “outperform” rating on the stock.
• 8/19/2024 – TC Energy had its price target raised by analysts at Barclays PLC from C$61.00 to C$64.00.

TC Energy Price Performance

TRP traded up C$1.43 on Tuesday, hitting C$64.24. 1,000,845 shares of the company’s stock traded hands, compared to its average volume of 7,260,693. TC Energy Co. has a one year low of C$41.86 and a one year high of C$64.37. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. The firm has a market cap of C$66.81 billion, a price-to-earnings ratio of 19.41, a P/E/G ratio of 0.26 and a beta of 0.82. The company’s 50 day simple moving average is C$61.81 and its 200-day simple moving average is C$55.94.

TC Energy (TSE:TRP) (NYSE:TRP) last released its earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, topping the consensus estimate of C$0.89 by C$0.05. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The firm had revenue of C$4.09 billion for the quarter, compared to the consensus estimate of C$3.78 billion. As a group, research analysts anticipate that TC Energy Co. will post 4.4244068 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. Shareholders of record on Friday, September 27th will be paid a dividend of $0.96 per share. The ex-dividend date is Friday, September 27th. This represents a $3.84 annualized dividend and a yield of 5.98%. TC Energy’s payout ratio is currently 116.01%.

Insider Buying and Selling at TC Energy

In other news, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of TC Energy stock in a transaction that occurred on Tuesday, September 24th. The shares were bought at an average cost of C$63.06 per share, with a total value of C$34,367.70. In other news, Director Richard Prior sold 18,068 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of C$63.00, for a total transaction of C$1,138,284.00. Also, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were purchased at an average price of C$63.06 per share, for a total transaction of C$34,367.70. Insiders have sold a total of 95,479 shares of company stock worth $5,860,018 over the last ninety days. Company insiders own 0.04% of the company’s stock.

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.