Brokerages Set TC Energy Co. (TSE:TRP) PT at C$67.62

TC Energy Co. (TSE:TRP) (NYSE:TRP) has received an average recommendation of “Hold” from the fourteen analysts that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$69.54.

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of TC Energy from C$74.00 to C$76.00 in a research report on Wednesday. Jefferies Financial Group lifted their price target on TC Energy from C$64.00 to C$65.00 in a research note on Wednesday. Morgan Joseph raised TC Energy from an “underweight” rating to an “overweight” rating and raised their price objective for the company from C$62.00 to C$78.00 in a report on Friday, October 25th. BMO Capital Markets increased their price target on shares of TC Energy from C$66.00 to C$70.00 in a research report on Wednesday. Finally, National Bankshares boosted their price objective on shares of TC Energy from C$70.00 to C$71.00 in a report on Wednesday.

TC Energy Stock Performance

TC Energy stock opened at C$69.65 on Wednesday. TC Energy 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. The firm has a market capitalization of C$72.44 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The firm’s 50 day simple moving average is C$65.01 and its 200 day simple moving average is C$59.04.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.97 by C$0.06. The business had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. As a group, analysts expect that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.113 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio is currently 116.01%.

Insider Activity at TC Energy

In other TC Energy news, Director David Brast sold 6,743 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of C$69.01, for a total value of C$465,353.98. Also, Director Mark Yeomans sold 6,500 shares of TC Energy stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of C$61.58, for a total value of C$400,297.95. Insiders have sold a total of 214,476 shares of company stock worth $14,299,929 in the last 90 days. Company insiders own 0.03% of the company’s stock.

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.