TC Energy Co. (TRP.TO) (TSE:TRP) Reaches New 12-Month Low Following Analyst Downgrade

TC Energy Co. (TRP.TO) (TSE:TRP) (NYSE:TRP)’s stock price hit a new 52-week low on Wednesday after CIBC lowered their price target on the stock from C$73.00 to C$71.00. The stock traded as low as C$0.05 and last traded at C$0.05, with a volume of 2988601 shares changing hands. The stock had previously closed at C$53.94.

TRP has been the topic of several other research reports. National Bank Financial dropped their price target on shares of TC Energy Co. (TRP.TO) from C$73.00 to C$70.00 and set an “outperform” rating on the stock in a research note on Thursday, November 26th. Tudor Pickering downgraded TC Energy Co. (TRP.TO) from a “buy” rating to a “hold” rating and cut their target price for the company from C$70.00 to C$63.00 in a research note on Friday, January 8th. Raymond James set a C$68.00 price target on TC Energy Co. (TRP.TO) and gave the stock an “outperform” rating in a research note on Wednesday, November 18th. Bank of America lowered TC Energy Co. (TRP.TO) from a “buy” rating to a “neutral” rating in a report on Wednesday, January 6th. Finally, Royal Bank of Canada cut their price objective on shares of TC Energy Co. (TRP.TO) from C$81.00 to C$72.00 and set an “outperform” rating on the stock in a research note on Friday, October 30th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. TC Energy Co. (TRP.TO) presently has an average rating of “Buy” and a consensus price target of C$68.89.

In related news, Director David A. Diakow sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 26th. The shares were sold at an average price of C$58.77, for a total value of C$587,712.00. Following the completion of the transaction, the director now owns 2,426 shares of the company’s stock, valued at approximately C$142,578.93. Also, Director Robert C. Jacobucci acquired 2,460 shares of the stock in a transaction on Monday, November 2nd. The shares were purchased at an average price of C$51.85 per share, for a total transaction of C$127,553.71. Following the completion of the transaction, the director now owns 6,360 shares in the company, valued at approximately C$329,773. In the last 90 days, insiders have acquired 3,653 shares of company stock worth $194,600.

The firm has a 50-day moving average of C$55.48 and a two-hundred day moving average of C$57.89. The stock has a market capitalization of C$51.61 million and a price-to-earnings ratio of 11.57. The company has a quick ratio of 0.38, a current ratio of 0.51 and a debt-to-equity ratio of 144.88.

TC Energy Co. (TRP.TO) (TSE:TRP) (NYSE:TRP) last released its earnings results on Thursday, October 29th. The company reported C$0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.92 by C$0.03. The business had revenue of C$3.20 billion for the quarter, compared to analysts’ expectations of C$3.08 billion. As a group, sell-side analysts predict that TC Energy Co. will post 4.1799998 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 29th. Shareholders of record on Thursday, December 31st will be paid a $0.81 dividend. The ex-dividend date of this dividend is Wednesday, December 30th. This represents a $3.24 annualized dividend and a yield of 5,901.64%. TC Energy Co. (TRP.TO)’s dividend payout ratio is presently 67.24%.

About TC Energy Co. (TRP.TO) (TSE:TRP)

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Storage segments. The company builds and operates 92,600 km network 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.

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