TC Energy (TSE:TRP) Price Target Raised to C$76.00 at Wells Fargo & Company

TC Energy (TSE:TRP) (NYSE:TRP) had its target price increased by Wells Fargo & Company from C$74.00 to C$76.00 in a research report released on Wednesday morning,BayStreet.CA reports.

Other analysts have also issued reports about the company. Royal Bank of Canada increased their price objective on TC Energy from C$67.00 to C$71.00 in a report on Friday, November 8th. Jefferies Financial Group lifted their price target on TC Energy from C$57.00 to C$66.00 and gave the company a “hold” rating in a report on Monday, September 30th. UBS Group raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Barclays raised their price objective on shares of TC Energy from C$66.00 to C$67.00 in a research report on Monday, October 21st. Finally, CIBC boosted their target price on shares of TC Energy from C$66.00 to C$67.00 in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$69.54.

TC Energy Price Performance

Shares of TRP opened at C$69.65 on Wednesday. The business’s 50-day moving average is C$65.01 and its 200-day moving average is C$59.09. 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 company has a market capitalization of C$72.44 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 1.69 and a beta of 0.82. TC Energy has a fifty-two week low of C$43.83 and a fifty-two week 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, 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 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 fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $1.113 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 annualized dividend and a dividend yield of 6.39%. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is currently 116.01%.

Insider Buying and Selling

In related news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of TC Energy 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. Also, Senior Officer Patrick M. Keys sold 17,127 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of C$62.71, for a total value of C$1,074,049.58. In the last 90 days, insiders sold 214,476 shares of company stock valued at $14,299,929. 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.