TC Energy Co. (TSE:TRP) Receives C$55.56 Average Price Target from Analysts

TC Energy Co. (TSE:TRP) (NYSE:TRP) has been assigned a consensus rating of “Hold” from the eleven analysts that are covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$55.56.

A number of analysts have recently commented on TRP shares. JPMorgan Chase & Co. upped their target price on TC Energy from C$58.00 to C$59.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Wells Fargo & Company raised their price objective on shares of TC Energy from C$59.00 to C$64.00 in a research note on Tuesday, June 4th. CIBC boosted their target price on shares of TC Energy from C$56.00 to C$59.00 in a research note on Monday, July 15th. Jefferies Financial Group raised their price target on shares of TC Energy from C$51.00 to C$52.00 and gave the company a “hold” rating in a research report on Monday, May 6th. Finally, Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from C$55.00 to C$61.00 in a research report on Wednesday, July 17th.

TC Energy Stock Up 1.6 %

TRP stock opened at C$57.30 on Thursday. The company has a market capitalization of C$59.59 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 0.26 and a beta of 0.74. TC Energy has a 12 month low of C$43.70 and a 12 month high of C$57.33. The firm’s fifty day simple moving average is C$53.03 and its 200-day simple moving average is C$52.63. The company has a debt-to-equity ratio of 163.01, a current ratio of 0.94 and a quick ratio of 0.40.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Friday, May 3rd. The company reported C$1.24 EPS for the quarter, beating the consensus estimate of C$1.14 by C$0.10. The company had revenue of C$4.24 billion for the quarter, compared to analyst estimates of C$4.26 billion. TC Energy had a net margin of 17.31% and a return on equity of 8.37%. As a group, equities research analysts forecast that TC Energy will post 4.1883013 earnings per share for the current year.

TC Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.96 per share. The ex-dividend date is Friday, June 28th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 6.70%. TC Energy’s payout ratio is currently 147.69%.

Insider Transactions at TC Energy

In other TC Energy news, Senior Officer Christine R. Johnston sold 1,330 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of C$53.15, for a total value of C$70,689.50. Following the transaction, the insider now owns 466 shares in the company, valued at approximately C$24,767.90. In related news, Senior Officer Christine R. Johnston sold 1,330 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of C$53.15, for a total transaction of C$70,689.50. Following the completion of the sale, the insider now owns 466 shares of the company’s stock, valued at approximately C$24,767.90. Also, Director Richard Prior sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of C$40.00, for a total transaction of C$200,000.00. Insiders have sold 6,876 shares of company stock valued at $299,917 over the last ninety days. 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.