TC Energy (TSE:TRP) Price Target Raised to C$68.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target raised by CIBC from C$67.00 to C$68.00 in a research note released on Wednesday,BayStreet.CA reports.

A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of TC Energy from C$67.00 to C$71.00 in a report on Friday, November 8th. Barclays boosted their price objective on shares of TC Energy from C$66.00 to C$67.00 in a research note on Monday, October 21st. Jefferies Financial Group increased their target price on TC Energy from C$64.00 to C$65.00 in a research report on Wednesday. ATB Capital lifted their target price on TC Energy from C$64.00 to C$65.00 in a report on Friday, November 8th. Finally, National Bankshares upped their price target on TC Energy from C$70.00 to C$71.00 in a research note on Wednesday. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$69.54.

TC Energy Price Performance

TRP stock opened at C$69.65 on Wednesday. The stock has a market capitalization of C$72.44 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The stock’s fifty day simple moving average is C$65.01 and its 200-day simple moving average is C$59.04. TC Energy has a 52-week low of C$43.83 and a 52-week high of C$70.32. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly 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 return on equity of 10.68% and a net margin of 21.38%. The firm had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. Equities research analysts expect that TC Energy will post 3.5490515 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $1.113 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change 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 116.01%.

Insider Buying and Selling at TC Energy

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average cost of C$63.06 per share, with a total value of C$34,367.70. Also, Director Mark Yeomans sold 6,500 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of C$61.58, for a total value of C$400,297.95. Insiders sold 214,476 shares of company stock valued at $14,299,929 over the last 90 days. 0.03% of the stock is owned by corporate insiders.

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.