TC Energy Co. (TSE:TRP) Receives C$74.54 Average Price Target from Analysts

TC Energy Co. (TSE:TRP) (NYSE:TRP) has earned an average rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is C$75.31.

A number of research analysts have issued reports on TRP shares. Jefferies Financial Group decreased their target price on shares of TC Energy from C$71.00 to C$68.00 in a research report on Wednesday, July 23rd. Citigroup set a C$75.00 price target on shares of TC Energy and gave the stock a “neutral” rating in a research report on Friday, September 5th. Cibc World Mkts lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. TD Securities increased their price target on shares of TC Energy from C$76.00 to C$81.00 in a research report on Friday. Finally, CIBC lowered shares of TC Energy from an “outperform” rating to a “neutral” rating and increased their price target for the stock from C$76.00 to C$77.00 in a research report on Thursday, October 9th.

TC Energy Stock Performance

Shares of TSE:TRP opened at C$72.10 on Friday. The company’s 50 day moving average price is C$72.51 and its two-hundred day moving average price is C$69.02. TC Energy has a 12-month low of C$62.17 and a 12-month high of C$77.26. The firm has a market cap of C$74.96 billion, a PE ratio of 17.67, a PEG ratio of 1.69 and a beta of 0.84. The company has a quick ratio of 0.40, a current ratio of 1.31 and a debt-to-equity ratio of 237.62.

TC Energy Dividend Announcement

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 given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 4.7%. TC Energy’s dividend payout ratio is 85.36%.

Insider Activity at TC Energy

In related news, Director Siim A. Vanaselja sold 40,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of C$70.07, for a total transaction of C$2,802,640.00. Following the sale, the director owned 12,000 shares in the company, valued at approximately C$840,792. This trade represents a 76.92% decrease in their position. Also, Director Francois Lionel Poirier sold 53,946 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of C$70.49, for a total transaction 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 approximately C$8,004,173.57. The trade was a 32.21% decrease in their position. Company insiders own 0.03% of the company’s stock.

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.