Barclays Forecasts Strong Price Appreciation for TC Energy (TSE:TRP) Stock

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective boosted by Barclays from C$67.00 to C$74.00 in a research note published on Wednesday,BayStreet.CA reports.

Other equities analysts have also recently issued reports about the stock. ATB Capital upped their price target on shares of TC Energy from C$64.00 to C$65.00 in a research report on Friday, November 8th. CIBC increased their price objective on TC Energy from C$67.00 to C$68.00 in a report on Wednesday. JPMorgan Chase & Co. raised their target price on TC Energy from C$70.00 to C$79.00 in a research report on Monday, November 18th. BMO Capital Markets upped their price target on TC Energy from C$66.00 to C$70.00 in a research report on Wednesday. Finally, Jefferies Financial Group raised their price objective on TC Energy from C$64.00 to C$65.00 in a research report on Wednesday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$69.54.

TC Energy Stock Performance

TSE TRP opened at C$69.65 on Wednesday. The firm’s fifty day moving average price is C$65.01 and its two-hundred day moving average price is C$59.09. The stock has a market cap of C$72.44 billion, a PE ratio of 21.04, a PEG ratio of 1.69 and a beta of 0.82. 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 fifty-two week low of C$43.83 and a fifty-two week high of C$70.32.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share 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 for the quarter, compared to analyst estimates of C$3.90 billion. On average, equities analysts expect that TC Energy will post 3.5490515 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $1.113 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $4.45 annualized dividend and a dividend yield of 6.39%. This is a positive change from TC Energy’s previous quarterly dividend of $0.96. TC Energy’s payout ratio is currently 116.01%.

Insider Buying and Selling

In related news, Senior Officer Patrick M. Keys sold 17,127 shares of the business’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, Director Mark Yeomans sold 6,500 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of C$61.58, for a total value of C$400,297.95. Insiders have sold a total of 214,476 shares of company stock valued at $14,299,929 over the last ninety days. 0.03% 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.