TC Energy (TSE:TRP) Price Target Raised to C$80.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target raised by Scotiabank from C$77.00 to C$80.00 in a research report report published on Monday morning,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

A number of other research analysts also recently weighed in on TRP. Citigroup set a C$75.00 price target on TC Energy and gave the company a “neutral” rating in a report on Friday, September 5th. CIBC lowered TC Energy from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from C$76.00 to C$77.00 in a research report on Thursday, October 9th. Jefferies Financial Group decreased their price objective on TC Energy from C$71.00 to C$68.00 in a research report on Wednesday, July 23rd. National Bankshares increased their price target on shares of TC Energy from C$75.00 to C$76.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Finally, Cibc World Mkts lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, TC Energy presently has an average rating of “Moderate Buy” and an average target price of C$75.54.

TC Energy Stock Up 0.7%

Shares of TSE:TRP opened at C$72.50 on Monday. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. The company has a market cap of C$75.37 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 1.69 and a beta of 0.84. TC Energy has a 52 week low of C$62.17 and a 52 week high of C$77.26. The firm has a 50 day simple moving average of C$72.68 and a 200 day simple moving average of C$69.11.

TC Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.7%. TC Energy’s dividend payout ratio is 85.36%.

Insider Transactions at TC Energy

In other news, Director Siim A. Vanaselja sold 40,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of C$70.07, for a total transaction of C$2,802,640.00. Following the transaction, the director owned 12,000 shares of the company’s stock, valued at approximately C$840,792. This represents a 76.92% decrease in their position. Also, Director Francois Lionel Poirier sold 53,946 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of C$70.49, for a total value of C$3,802,669.72. Following the sale, the director directly owned 113,550 shares of the company’s stock, valued at C$8,004,173.57. The trade was a 32.21% decrease in their position. Corporate insiders own 0.03% of the company’s stock.

About TC Energy

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system.