Brokerages Set TC Energy Co. (TSE:TRP) PT at C$69.77

TC Energy Co. (TSE:TRP) (NYSE:TRP) has been assigned an average recommendation of “Hold” from the fifteen ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is C$69.77.

A number of equities analysts have recently commented on TRP shares. Barclays lifted their price target on shares of TC Energy from C$67.00 to C$74.00 in a research report on Wednesday, November 20th. CIBC lifted their target price on shares of TC Energy from C$67.00 to C$68.00 in a report on Wednesday, November 20th. Raymond James raised shares of TC Energy to a “hold” rating in a research report on Thursday, November 21st. UBS Group raised TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Finally, BMO Capital Markets lifted their price objective on TC Energy from C$70.00 to C$73.00 in a research note on Friday, November 29th.

TC Energy Trading Up 0.4 %

Shares of TSE:TRP opened at C$65.90 on Friday. TC Energy has a 12-month low of C$43.83 and a 12-month 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. The firm has a market capitalization of C$68.54 billion, a P/E ratio of 19.91, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The firm has a fifty day moving average of C$66.48 and a two-hundred day moving average of C$60.71.

TC Energy (TSE:TRP) (NYSE:TRP) last issued 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. On average, equities analysts expect that TC Energy will post 3.5490515 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $1.113 dividend. This represents a $4.45 annualized dividend and a yield of 6.76%. The ex-dividend date is Tuesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.96. TC Energy’s dividend payout ratio (DPR) is presently 116.01%.

Insider Activity at TC Energy

In other news, Senior Officer Stanley G. Chapman Iii sold 267,435 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of C$66.51, for a total transaction of C$17,785,898.39. Also, Director Colin Lindley sold 3,194 shares of the stock in a transaction that occurred 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 in the company, valued at C$47,883.41. This represents a 82.09 % decrease in their ownership of the stock. Insiders sold a total of 440,243 shares of company stock valued at $29,476,491 over the last quarter. Corporate 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.