Insider Selling: TC Energy Co. (TSE:TRP) Director Sells 6,743 Shares of Stock

TC Energy Co. (TSE:TRP) (NYSE:TRP) Director David Brast sold 6,743 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$69.01, for a total transaction of C$465,353.98.

TC Energy Stock Performance

TSE:TRP opened at C$69.65 on Friday. The stock has a 50 day simple moving average of C$65.01 and a 200 day simple moving average of C$59.09. The stock has a market cap of C$72.44 billion, a P/E ratio of 21.04, a PEG ratio of 1.69 and a beta of 0.82. TC Energy Co. has a 1-year low of C$43.83 and a 1-year high of C$70.32. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84.

TC Energy (TSE:TRP) (NYSE:TRP) last announced 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 net margin of 21.38% and a return on equity of 10.68%. The firm had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. Research analysts anticipate that TC Energy Co. will post 3.5490515 earnings per share for the current year.

TC Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TRP. Raymond James raised shares of TC Energy to a “hold” rating in a research note on Thursday. CIBC increased their price objective on TC Energy from C$67.00 to C$68.00 in a report on Wednesday. Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Scotiabank raised their price target on shares of TC Energy from C$74.00 to C$75.00 in a research note on Wednesday. Finally, ATB Capital raised their price objective on TC Energy from C$64.00 to C$65.00 in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$69.54.

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.