TC Energy (TSE:TRP) Given New C$70.00 Price Target at BMO Capital Markets

TC Energy (TSE:TRP) (NYSE:TRP) had its target price hoisted by BMO Capital Markets from C$66.00 to C$70.00 in a research report released on Wednesday morning,BayStreet.CA reports.

Several other research analysts have also recently weighed in on the company. Barclays boosted their price objective on TC Energy from C$66.00 to C$67.00 in a research report on Monday, October 21st. Wells Fargo & Company boosted their price target on shares of TC Energy from C$74.00 to C$76.00 in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of TC Energy from C$70.00 to C$79.00 in a report on Monday. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Finally, ATB Capital lifted their price target on shares of TC Energy from C$64.00 to C$65.00 in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$69.54.

TC Energy Stock Performance

Shares of TRP stock opened at C$68.79 on Wednesday. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. The firm has a 50-day moving average of C$64.70 and a 200-day moving average of C$58.75. TC Energy has a one year low of C$43.83 and a one year high of C$70.24. The company has a market cap of C$71.54 billion, a P/E ratio of 20.78, a P/E/G ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of C$3.90 billion. Equities research analysts forecast that TC Energy will post 3.5490515 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared 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 of this dividend is Tuesday, December 31st. This represents a $4.45 annualized dividend and a dividend yield of 6.47%. This is a boost from TC Energy’s previous quarterly dividend of $0.96. TC Energy’s dividend payout ratio (DPR) is presently 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 that occurred on 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, Senior Officer Dawn Elizabeth De Lima bought 545 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was acquired at an average price of C$63.06 per share, for a total transaction of C$34,367.70. Over the last three months, insiders have sold 89,490 shares of company stock worth $5,749,355. Insiders own 0.03% of the company’s stock.

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.