TC Energy Co. (TSE:TRP) Receives Consensus Rating of “Moderate Buy” from Brokerages

TC Energy Co. (TSE:TRP) (NYSE:TRP) has been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is C$74.17.

TRP has been the subject of a number of recent research reports. Citigroup raised shares of TC Energy to a “hold” rating in a report on Friday, April 4th. Cibc World Mkts upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 2nd. Scotiabank raised their price objective on TC Energy from C$75.00 to C$77.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. TD Securities lifted their price objective on TC Energy from C$74.00 to C$76.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, CIBC increased their target price on TC Energy from C$71.00 to C$76.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd.

Insider Transactions at TC Energy

In related news, Director Alexandra M. Costello sold 6,159 shares of TC Energy stock in a transaction that occurred on Monday, May 26th. The shares were sold at an average price of C$69.55, for a total transaction of C$428,378.77. Also, Senior Officer Anita Elizabeth Dusevic Oliva acquired 14,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were bought at an average price of C$68.92 per share, with a total value of C$964,880.00. In the last three months, insiders have sold 45,070 shares of company stock valued at $3,141,916. 0.03% of the stock is owned by company insiders.

TC Energy Trading Down 1.9%

Shares of TC Energy stock opened at C$65.19 on Thursday. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. The firm has a 50-day moving average of C$68.21 and a 200-day moving average of C$67.28. TC Energy has a 52-week low of C$46.07 and a 52-week high of C$71.12. The stock has a market cap of C$67.23 billion, a PE ratio of 12.96, a PEG ratio of 1.69 and a beta of 0.82.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 5.22%. TC Energy’s payout ratio is 76.37%.

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.