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

TC Energy (TSE:TRP) (NYSE:TRP) had its price target upped by Barclays from C$64.00 to C$66.00 in a research note released on Tuesday morning, BayStreet.CA reports.

TRP has been the subject of several other research reports. CIBC decreased their price target on TC Energy from C$62.00 to C$57.00 and set a “negative” rating for the company in a research note on Wednesday, October 2nd. Royal Bank of Canada increased their price target on TC Energy from C$66.00 to C$67.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. ATB Capital reduced their price objective on shares of TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating for the company in a research note on Thursday, October 3rd. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Finally, Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$60.50.

TC Energy Trading Up 1.3 %

TSE:TRP opened at C$66.42 on Tuesday. The company has a market capitalization of C$69.08 billion, a P/E ratio of 20.07, a P/E/G ratio of 1.69 and a beta of 0.82. The stock’s 50 day moving average price is C$62.29 and its 200 day moving average price is C$56.25. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. TC Energy has a 52 week low of C$41.86 and a 52 week high of C$66.55.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly 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 company had revenue of C$4.09 billion for the quarter, compared to analyst estimates of C$3.78 billion. On average, research analysts forecast that TC Energy will post 3.5490515 EPS for the current fiscal year.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a $0.96 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 5.78%. TC Energy’s dividend payout ratio is currently 116.01%.

Insider Activity

In related news, Director Richard Prior sold 18,068 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total value of C$1,138,284.00. In related news, Director Rosemary K. Stevens sold 1,200 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of C$59.88, for a total value of C$71,856.00. Following the sale, the director now owns 987 shares of the company’s stock, valued at C$59,101.56. The trade was a 0.00 % decrease in their position. Also, Director Richard Prior sold 18,068 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total value of C$1,138,284.00. Over the last ninety days, insiders have sold 95,479 shares of company stock worth $5,860,018. Company insiders own 0.03% of the company’s stock.

TC Energy Company Profile

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.