TC Energy (TSE:TRP) Price Target Raised to C$76.00 at Wells Fargo & Company

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective upped by Wells Fargo & Company from C$74.00 to C$76.00 in a report published on Wednesday morning,BayStreet.CA reports.

A number of other equities analysts have also weighed in on the stock. Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. National Bankshares increased their price target on TC Energy from C$60.00 to C$70.00 in a research note on Friday, November 8th. BMO Capital Markets upped their target price on TC Energy from C$55.00 to C$66.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their price target on TC Energy from C$70.00 to C$79.00 in a research note on Monday. Finally, UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$69.54.

TC Energy Price Performance

Shares of TSE TRP opened at C$68.79 on Wednesday. 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 company’s 50-day moving average price is C$64.70 and its 200 day moving average price is C$58.75. TC Energy has a 52 week low of C$43.83 and a 52 week high of C$70.24. The stock has a market cap of C$71.54 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share (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%. As a group, research analysts forecast that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.113 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 annualized dividend and a dividend yield of 6.47%. TC Energy’s dividend payout ratio (DPR) is currently 116.01%.

Insider Buying and Selling

In related news, Director Mark Yeomans sold 6,500 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of C$61.58, for a total transaction of C$400,297.95. Also, Director Lindsay Mackay sold 3,520 shares of TC Energy stock in a transaction on Monday, November 18th. The stock was sold at an average price of C$70.00, for a total transaction of C$246,400.00. Over the last 90 days, insiders have sold 89,490 shares of company stock worth $5,749,355. 0.03% 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.