TC Energy Co. (TSE:TRP) Receives C$58.38 Average PT from Analysts

Shares of TC Energy Co. (TSE:TRP) (NYSE:TRP) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is C$58.69.

A number of equities research analysts recently weighed in on TRP shares. CIBC increased their price target on TC Energy from C$56.00 to C$59.00 in a research note on Monday, July 15th. Barclays increased their price target on TC Energy from C$61.00 to C$64.00 in a research note on Monday, August 19th. Wells Fargo & Company increased their price target on TC Energy from C$59.00 to C$64.00 in a research note on Tuesday, June 4th. National Bankshares upped their price objective on TC Energy from C$60.00 to C$65.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Scotiabank decreased their price objective on TC Energy from C$68.00 to C$62.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd.

TC Energy Stock Down 2.5 %

TRP opened at C$62.29 on Friday. TC Energy has a 1-year low of C$44.70 and a 1-year high of C$64.28. The stock’s fifty day simple moving average is C$58.43 and its 200 day simple moving average is C$54.61. 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 stock has a market cap of C$64.78 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 0.26 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.89 by C$0.05. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The business had revenue of C$4.09 billion for the quarter, compared to analysts’ expectations of C$3.78 billion. As a group, research analysts expect that TC Energy will post 4.4633124 earnings per share for the current year.

TC Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 6.16%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is currently 116.01%.

Insider Transactions at TC Energy

In other news, Senior Officer Patrick M. Keys sold 17,127 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of C$62.71, for a total transaction of C$1,074,049.58. In related news, Senior Officer Patrick M. Keys sold 17,127 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of C$62.71, for a total value of C$1,074,049.58. Also, Senior Officer Christine R. Johnston sold 16,292 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of C$59.71, for a total value of C$972,795.32. Following the completion of the sale, the insider now directly owns 466 shares in the company, valued at C$27,824.86. In the last three months, insiders have sold 65,152 shares of company stock valued at $3,945,326. 0.04% of the stock is 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.