TC Energy Co. (TSE:TRP) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of TC Energy Co. (TSE:TRP) (NYSE:TRP) have been given an average rating of “Moderate Buy” by the sixteen brokerages that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is C$74.17.

A number of research firms have recently weighed in on TRP. Royal Bank of Canada increased their price target on TC Energy from C$71.00 to C$74.00 in a report on Tuesday, February 18th. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Citigroup upgraded shares of TC Energy to a “hold” rating in a report on Friday, April 4th. TD Securities lifted their target price on shares of 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 lifted their target price on shares of TC Energy from C$71.00 to C$76.00 and gave the company an “outperform” rating in a report on Friday, May 2nd.

TC Energy Stock Performance

TSE TRP opened at C$68.07 on Friday. The stock has a market cap of C$70.20 billion, a PE ratio of 13.54, a P/E/G ratio of 1.69 and a beta of 0.82. The company has a current ratio of 1.31, a quick ratio of 0.40 and a debt-to-equity ratio of 237.62. TC Energy has a twelve month low of C$46.07 and a twelve month high of C$71.12. The stock has a fifty day simple moving average of C$68.37 and a 200-day simple moving average of C$67.48.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 4.99%. TC Energy’s payout ratio is currently 76.37%.

Insider Activity

In other news, Director Joshua Gibbon purchased 600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was bought at an average price of C$69.15 per share, for a total transaction of C$41,492.88. Also, Director Alexandra M. Costello sold 6,159 shares of TC Energy stock in a transaction that occurred on Monday, May 26th. The stock was sold at an average price of C$69.55, for a total transaction of C$428,378.77. Over the last three months, insiders have purchased 16,417 shares of company stock worth $1,132,158 and have sold 135,272 shares worth $9,403,527. 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.