Jefferies Financial Group Trims TC Energy (TSE:TRP) Target Price to C$51.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective lowered by Jefferies Financial Group from C$57.00 to C$51.00 in a research report sent to investors on Wednesday, BayStreet.CA reports.

A number of other research analysts have also recently commented on the stock. National Bankshares raised their price target on shares of TC Energy from C$54.00 to C$58.00 and gave the stock an outperform rating in a research note on Tuesday, January 30th. Stifel Nicolaus set a C$61.00 price target on shares of TC Energy and gave the stock a buy rating in a research note on Thursday, January 18th. TD Securities raised their price target on shares of TC Energy from C$50.00 to C$51.00 and gave the stock a hold rating in a research note on Wednesday, February 21st. Scotiabank lifted their target price on shares of TC Energy from C$55.00 to C$58.00 and gave the company an outperform rating in a research note on Tuesday, February 20th. Finally, Barclays lifted their target price on shares of TC Energy from C$53.00 to C$55.00 in a research note on Monday, January 29th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of C$54.94.

TC Energy Stock Down 0.6 %

TSE TRP opened at C$48.31 on Wednesday. The stock has a market cap of C$50.24 billion, a PE ratio of 17.57, a PEG ratio of 0.26 and a beta of 0.73. The company has a debt-to-equity ratio of 163.32, a quick ratio of 0.40 and a current ratio of 0.96. TC Energy has a twelve month low of C$43.70 and a twelve month high of C$56.98. The firm has a 50-day simple moving average of C$53.06 and a 200 day simple moving average of C$51.43.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Friday, February 16th. The company reported C$1.35 EPS for the quarter, topping analysts’ consensus estimates of C$1.08 by C$0.27. The firm had revenue of C$4.24 billion during the quarter, compared to analysts’ expectations of C$3.94 billion. TC Energy had a net margin of 18.34% and a return on equity of 8.39%. On average, research analysts forecast that TC Energy will post 4.1789916 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.96 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 7.95%. This is a positive change from TC Energy’s previous quarterly dividend of $0.93. TC Energy’s dividend payout ratio (DPR) is currently 139.64%.

Insider Activity at TC Energy

In related news, Director Alexis A.J. Hudy purchased 875 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average price of C$54.97 per share, with a total value of C$48,098.75. Following the completion of the acquisition, the director now directly owns 875 shares in the company, valued at approximately C$48,098.75. In other TC Energy news, Senior Officer Dawn Elizabeth De Lima bought 2,600 shares of the stock in a transaction on Monday, March 25th. The stock was purchased at an average price of C$55.04 per share, with a total value of C$143,104.00. Also, Director Alexis A.J. Hudy bought 875 shares of the stock in a transaction on Monday, March 25th. The shares were acquired at an average cost of C$54.97 per share, with a total value of C$48,098.75. Following the acquisition, the director now directly owns 875 shares in the company, valued at approximately C$48,098.75. Insiders purchased a total of 4,526 shares of company stock valued at $248,609 over the last quarter. Corporate insiders own 0.04% 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.