Barclays Issues Positive Forecast for TC Energy (TSE:TRP) Stock Price

TC Energy (TSE:TRP) (NYSE:TRP) had its price target lifted by Barclays from C$67.00 to C$74.00 in a research note issued to investors on Wednesday,BayStreet.CA reports.

TRP has been the topic of a number of other research reports. Wells Fargo & Company raised their target price on TC Energy from C$74.00 to C$76.00 in a report on Wednesday. Scotiabank raised their price objective on TC Energy from C$74.00 to C$75.00 in a research note on Wednesday. CIBC upped their target price on shares of TC Energy from C$67.00 to C$68.00 in a research note on Wednesday. Royal Bank of Canada raised their price target on shares of TC Energy from C$67.00 to C$71.00 in a research report on Friday, November 8th. Finally, BMO Capital Markets upped their price objective on shares of TC Energy from C$66.00 to C$70.00 in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$69.54.

TC Energy Stock Performance

TSE TRP opened at C$69.65 on Wednesday. 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 has a fifty day simple moving average of C$65.01 and a 200 day simple moving average of C$59.04. TC Energy has a 12-month low of C$43.83 and a 12-month high of C$70.32. The company 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 (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of C$3.90 billion. Sell-side analysts predict that TC Energy will post 3.5490515 earnings per share 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 issued a dividend of $1.113 per share. This represents a $4.45 annualized dividend and a yield of 6.39%. This is a positive change 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 116.01%.

Insider Buying and Selling at TC Energy

In other news, Director Mark Yeomans sold 6,500 shares of TC Energy stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of C$61.58, for a total value of C$400,297.95. Also, Director Colin Lindley sold 3,194 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of C$68.70, for a total transaction of C$219,425.56. Following the sale, the director now owns 697 shares in the company, valued at C$47,883.41. The trade was a 82.09 % decrease in their ownership of the stock. Insiders have sold a total of 214,476 shares of company stock worth $14,299,929 over the last ninety days. 0.03% of the stock is currently owned by company 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.