TC Energy (TSE:TRP) Price Target Raised to C$80.00 at Barclays

TC Energy (TSE:TRP) (NYSE:TRP) had its target price upped by Barclays from C$75.00 to C$80.00 in a research note released on Tuesday morning,BayStreet.CA reports. Barclays currently has an overweight rating on the stock.

A number of other analysts have also recently issued reports on the company. Citigroup set a C$75.00 price objective on TC Energy and gave the company a “neutral” rating in a research report on Friday, September 5th. CIBC cut TC Energy from an “outperform” rating to a “neutral” rating and raised their price objective for the company from C$76.00 to C$77.00 in a research report on Thursday, October 9th. Jefferies Financial Group cut their price objective on TC Energy from C$71.00 to C$68.00 in a research report on Wednesday, July 23rd. National Bankshares raised their price objective on TC Energy from C$75.00 to C$76.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Finally, US Capital Advisors cut TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$74.92.

TC Energy Stock Down 1.1%

TRP stock opened at C$73.10 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 1.31 and a debt-to-equity ratio of 237.62. The business has a 50 day moving average price of C$72.26 and a two-hundred day moving average price of C$68.94. The company has a market cap of C$76.00 billion, a price-to-earnings ratio of 17.92, a P/E/G ratio of 1.69 and a beta of 0.84. TC Energy has a twelve month low of C$62.17 and a twelve month high of C$77.26.

TC Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 4.7%. TC Energy’s payout ratio is currently 85.36%.

Insider Buying and Selling at TC Energy

In other TC Energy news, Director Siim A. Vanaselja sold 40,000 shares of TC Energy stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of C$70.07, for a total value of C$2,802,640.00. Following the completion of the transaction, the director directly owned 12,000 shares of the company’s stock, valued at C$840,792. The trade was a 76.92% decrease in their position. Also, Director Francois Lionel Poirier sold 53,946 shares of TC Energy stock in a transaction on Friday, August 15th. The shares were sold at an average price of C$70.49, for a total value of C$3,802,669.72. Following the completion of the transaction, the director directly owned 113,550 shares of the company’s stock, valued at C$8,004,173.57. This represents a 32.21% decrease in their ownership of the stock. 0.03% of the stock is owned by insiders.

About TC Energy

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system.