TC Energy (TSE:TRP) Price Target Raised to C$74.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target hoisted by Scotiabank from C$68.00 to C$74.00 in a report published on Friday,BayStreet.CA reports.

A number of other brokerages have also recently issued reports on TRP. Morgan Joseph raised TC Energy from an “underweight” rating to an “overweight” rating and upped their target price for the stock from C$62.00 to C$78.00 in a report on Friday, October 25th. Jefferies Financial Group increased their price target on TC Energy from C$57.00 to C$66.00 and gave the company a “hold” rating in a research note on Monday, September 30th. National Bankshares decreased their price target on TC Energy from C$65.00 to C$60.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. ATB Capital decreased their price target on 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. Finally, JPMorgan Chase & Co. cut their target price on TC Energy from C$66.00 to C$60.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, TC Energy presently has an average rating of “Hold” and a consensus price target of C$66.15.

TC Energy Price Performance

TC Energy stock opened at C$67.82 on Friday. 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$43.83 and a 52 week high of C$69.61. The stock has a market capitalization of C$70.53 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The stock has a fifty day moving average of C$63.74 and a 200-day moving average of C$57.73.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.97 by C$0.06. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The business had revenue of C$4.08 billion during the quarter, compared to analysts’ expectations of C$3.90 billion. On average, sell-side analysts expect that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $1.113 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $4.45 annualized dividend and a dividend yield of 6.56%. TC Energy’s payout ratio is presently 116.01%.

Insider Activity at TC Energy

In related news, Director Richard Prior sold 3,000 shares of TC Energy stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of C$44.00, for a total transaction of C$132,000.00. In related news, Director Richard Prior sold 3,000 shares of TC Energy stock in a transaction on Friday, August 16th. The stock was sold at an average price of C$44.00, for a total transaction of C$132,000.00. Also, Senior Officer Dawn Elizabeth De Lima purchased 555 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were acquired at an average price of C$62.82 per share, for a total transaction of C$34,865.66. Insiders have sold a total of 74,914 shares of company stock valued at $4,632,785 over the last 90 days. Insiders own 0.03% of the company’s stock.

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.