Brokerages Set TC Energy Co. (TSE:TRP) Price Target at C$58.38

TC Energy Co. (TSE:TRP) (NYSE:TRP) has earned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is C$58.69.

A number of research analysts have issued reports on TRP shares. National Bankshares lifted 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. BMO Capital Markets lifted their price objective on TC Energy from C$57.00 to C$65.00 in a report on Thursday, September 5th. Scotiabank cut their price objective on TC Energy from C$68.00 to C$62.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on TC Energy from C$59.00 to C$64.00 in a report on Tuesday, June 4th. Finally, Jefferies Financial Group lifted their price target on TC Energy from C$52.00 to C$57.00 and gave the company a “hold” rating in a report on Monday, July 29th.

Insider Activity at TC Energy

In related news, Director Colin Lindley sold 2,773 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total value of C$164,761.40. Following the completion of the transaction, the director now directly owns 697 shares in the company, valued at approximately C$41,413.16. In other TC Energy news, Director Colin Lindley sold 2,773 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the completion of the transaction, the director now owns 697 shares of the company’s stock, valued at approximately C$41,413.16. Also, Senior Officer Christine R. Johnston sold 16,292 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of C$59.71, for a total value of C$972,795.32. Following the transaction, the insider now directly owns 466 shares of the company’s stock, valued at approximately C$27,824.86. In the last three months, insiders sold 65,152 shares of company stock worth $3,945,326. 0.04% of the stock is owned by company insiders.

TC Energy Trading Down 2.5 %

Shares of TC Energy stock 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 company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. The company’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 market cap of C$64.78 billion, a price-to-earnings ratio of 18.82, a PEG 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, topping analysts’ consensus estimates of C$0.89 by C$0.05. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The firm had revenue of C$4.09 billion for the quarter, compared to the consensus estimate of C$3.78 billion. As a group, sell-side analysts expect that TC Energy will post 4.4633124 EPS for the current year.

TC Energy Announces Dividend

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 given a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.84 annualized dividend and a dividend yield of 6.16%. TC Energy’s payout ratio is currently 116.01%.

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.