Scotiabank Lowers TC Energy (TSE:TRP) Price Target to C$61.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target reduced by Scotiabank from C$62.00 to C$61.00 in a report published on Wednesday, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Several other equities analysts have also weighed in on TRP. National Bankshares lifted their price target on TC Energy from C$60.00 to C$65.00 and gave the company an outperform rating in a research note on Friday, August 23rd. ATB Capital upped their target price on TC Energy from C$56.00 to C$60.00 and gave the stock a sector perform rating in a research note on Tuesday, September 10th. Jefferies Financial Group increased their target price on TC Energy from C$52.00 to C$57.00 and gave the company a hold rating in a research report on Monday, July 29th. Wells Fargo & Company boosted their price target on shares of TC Energy from C$59.00 to C$64.00 in a report on Tuesday, June 4th. Finally, CIBC increased their price objective on shares of TC Energy from C$56.00 to C$59.00 in a report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of C$58.62.

TC Energy Price Performance

Shares of TSE TRP opened at C$63.18 on Wednesday. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. The firm’s 50 day simple moving average is C$61.01 and its 200-day simple moving average is C$55.44. TC Energy has a 12 month low of C$44.70 and a 12 month high of C$64.83. The stock has a market capitalization of C$65.71 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 0.26 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, beating the consensus estimate of C$0.89 by C$0.05. The company had revenue of C$4.09 billion for the quarter, compared to analyst estimates of C$3.78 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. Analysts expect that TC Energy will post 4.5431472 EPS for the current year.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.84 dividend on an annualized basis and a yield of 6.08%. TC Energy’s payout ratio is presently 116.01%.

Insider Buying and Selling at TC Energy

In other news, Director Richard Prior sold 18,068 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total transaction of C$1,138,284.00. In other news, Director Jawad Masud sold 6,041 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$63.50, for a total transaction of C$383,603.50. Also, Director Richard Prior sold 18,068 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total transaction of C$1,138,284.00. In the last quarter, insiders sold 95,479 shares of company stock worth $5,860,018. 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.