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 upped by BMO Capital Markets from C$66.00 to C$70.00 in a research note issued to investors on Wednesday morning,BayStreet.CA reports.

A number of other analysts have also recently commented on the stock. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. increased their price target on TC Energy from C$70.00 to C$79.00 in a report on Monday, November 18th. Scotiabank raised their price target on TC Energy from C$74.00 to C$75.00 in a research report on Wednesday. CIBC increased their target price on TC Energy from C$67.00 to C$68.00 in a research note on Wednesday. Finally, Royal Bank of Canada lifted their price target on shares of TC Energy from C$67.00 to C$71.00 in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, TC Energy presently has an average rating of “Hold” and an average price target of C$69.54.

TC Energy Price Performance

TC Energy stock 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 firm has a market capitalization of C$72.44 billion, a P/E ratio of 21.04, a PEG ratio of 1.69 and a beta of 0.82. The business has a 50-day moving average of C$65.01 and a 200-day moving average of C$59.09. TC Energy has a 1 year low of C$43.83 and a 1 year high of C$70.32.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, topping 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 business had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. On average, equities analysts anticipate that TC Energy will post 3.5490515 EPS for the current 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 paid a $1.113 dividend. 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%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s payout ratio is presently 116.01%.

Insiders Place Their Bets

In other TC Energy news, Director Mark Yeomans sold 6,500 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of C$61.58, for a total transaction of C$400,297.95. Also, Director Colin Lindley sold 3,194 shares of the stock in a transaction 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 completion of the sale, the director now owns 697 shares of the company’s stock, valued at approximately C$47,883.41. This represents a 82.09 % decrease in their position. Insiders have sold 214,476 shares of company stock valued at $14,299,929 in the last three months. 0.03% of the stock is currently owned by corporate 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.