National Bankshares Cuts TC Energy (TSE:TRP) Price Target to C$60.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective reduced by National Bankshares from C$65.00 to C$60.00 in a research note released on Thursday, BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the company. UBS Group upgraded TC Energy from a hold rating to a strong-buy rating in a research note on Monday, September 30th. BMO Capital Markets reduced their target price on shares of TC Energy from C$65.00 to C$55.00 and set a market perform rating for the company in a research note on Wednesday, October 2nd. ATB Capital upped their price target on shares of TC Energy from C$56.00 to C$60.00 and gave the company a sector perform rating in a research note on Tuesday, September 10th. Jefferies Financial Group raised their price objective on shares of TC Energy from C$57.00 to C$66.00 and gave the stock a hold rating in a report on Monday, September 30th. Finally, Barclays boosted their target price on shares of TC Energy from C$61.00 to C$64.00 in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of C$59.23.

TC Energy Stock Up 1.8 %

Shares of TSE:TRP opened at C$61.22 on Thursday. TC Energy has a 1 year low of C$44.70 and a 1 year high of C$65.39. The company has a market capitalization of C$63.67 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 0.26 and a beta of 0.82. The business has a fifty day moving average price of C$61.41 and a two-hundred day moving average price of C$55.64. 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 released its 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. The firm had revenue of C$4.09 billion for the quarter, compared to analysts’ expectations of C$3.78 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. Analysts forecast that TC Energy will post 4.4244068 earnings per share for the current year.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.84 annualized dividend and a dividend yield of 6.27%. TC Energy’s payout ratio is currently 116.01%.

Insider Activity

In related news, Senior Officer Christine R. Johnston sold 16,292 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 466 shares of the company’s stock, valued at C$27,824.86. This trade represents a 0.00 % decrease in their ownership of the stock. In related news, Senior Officer Christine R. Johnston sold 16,292 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of C$59.71, for a total transaction 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. This trade represents a 0.00 % decrease in their position. Also, Director Rosemary K. Stevens sold 1,200 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of C$59.88, for a total transaction of C$71,856.00. Following the transaction, the director now directly owns 987 shares in the company, valued at approximately C$59,101.56. This represents a 0.00 % decrease in their position. In the last 90 days, insiders sold 95,479 shares of company stock worth $5,860,018. 0.04% of the stock is currently owned by insiders.

TC Energy Company Profile

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.