BMO Capital Markets Issues Positive Forecast for TC Energy (TSE:TRP) Stock Price

TC Energy (TSE:TRP) (NYSE:TRP) had its price target boosted by BMO Capital Markets from C$70.00 to C$73.00 in a report released on Friday,BayStreet.CA reports.

Several other equities analysts have also recently commented on TRP. JPMorgan Chase & Co. upped their price target on TC Energy from C$70.00 to C$79.00 in a report on Monday, November 18th. Jefferies Financial Group upped their target price on TC Energy from C$64.00 to C$65.00 in a research note on Wednesday, November 20th. Raymond James raised TC Energy to a “hold” rating in a research report on Thursday, November 21st. Royal Bank of Canada boosted their price target on shares of TC Energy from C$67.00 to C$71.00 in a report on Friday, November 8th. Finally, UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, TC Energy currently has a consensus rating of “Hold” and an average price target of C$69.77.

TC Energy Stock Performance

The company has a market capitalization of C$70.99 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 1.69 and a beta of 0.82. TC Energy has a 52-week low of C$43.83 and a 52-week high of C$70.32. The business’s 50-day moving average is C$65.42 and its two-hundred day moving average is C$59.50. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.97 by C$0.06. The company had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. Equities research analysts anticipate that TC Energy will post 3.5490515 EPS for the current fiscal year.

TC Energy Increases Dividend

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

Insider Transactions at TC Energy

In related news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of TC Energy stock in a transaction dated Tuesday, September 24th. The shares were bought at an average cost of C$63.06 per share, for a total transaction of C$34,367.70. Also, Senior Officer Francois Lionel Poirier sold 118,243 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$68.38, for a total transaction of C$8,085,219.85. Over the last 90 days, insiders sold 207,976 shares of company stock valued at $13,899,631. Corporate 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.