Brokerages Set TC Energy Co. (TSE:TRP) Target Price at C$74.17

Shares of TC Energy Co. (TSE:TRP) (NYSE:TRP) have earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$74.17.

A number of brokerages have commented on TRP. Cibc World Mkts raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 2nd. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Royal Bank of Canada boosted their price target on shares of TC Energy from C$71.00 to C$74.00 in a research note on Tuesday, February 18th. Citigroup upgraded shares of TC Energy to a “hold” rating in a report on Friday, April 4th. Finally, CIBC lifted their price objective on shares of TC Energy from C$71.00 to C$76.00 and gave the company an “outperform” rating in a report on Friday, May 2nd.

TC Energy Stock Performance

Shares of TC Energy stock opened at C$69.65 on Wednesday. The business has a 50-day simple moving average of C$68.21 and a 200 day simple moving average of C$67.34. TC Energy has a one year low of C$46.07 and a one year high of C$70.97. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40. The firm has a market capitalization of C$71.83 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 1.69 and a beta of 0.82.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.88%. TC Energy’s payout ratio is currently 76.37%.

Insider Activity at TC Energy

In related news, Director Susanne Beaton sold 8,020 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of C$70.00, for a total transaction of C$561,400.00. Also, Senior Officer Anita Elizabeth Dusevic Oliva purchased 14,000 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were acquired at an average price of C$68.92 per share, for a total transaction of C$964,880.00. In the last ninety days, insiders have acquired 22,487 shares of company stock worth $1,495,209 and have sold 170,987 shares worth $11,550,459. 0.03% of the stock is currently owned by corporate insiders.

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.