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

Shares of TC Energy Co. (TSE:TRP) (NYSE:TRP) have been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$74.92.

Several research firms have recently weighed in on TRP. Jefferies Financial Group reduced their target price on TC Energy from C$71.00 to C$68.00 in a report on Wednesday, July 23rd. Barclays boosted their target price on TC Energy from C$75.00 to C$80.00 and gave the company an “overweight” rating in a report on Tuesday. CIBC downgraded TC Energy from an “outperform” rating to a “neutral” rating and boosted their target price for the company from C$76.00 to C$77.00 in a report on Thursday, October 9th. National Bankshares boosted their target price on TC Energy from C$75.00 to C$76.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Finally, US Capital Advisors downgraded TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st.

TC Energy Stock Down 0.6%

Shares of TSE TRP opened at C$72.68 on Friday. The company has a market capitalization of C$75.56 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.69 and a beta of 0.84. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40. The business has a 50-day moving average of C$72.35 and a two-hundred day moving average of C$68.97. TC Energy has a 1 year low of C$62.17 and a 1 year high of C$77.26.

TC Energy Announces Dividend

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

Insider Activity

In other news, Director Francois Lionel Poirier sold 53,946 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of C$70.49, for a total value of C$3,802,669.72. Following the completion of the sale, 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. Also, Director Siim A. Vanaselja sold 40,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were 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 owned 12,000 shares in the company, valued at C$840,792. This trade represents a 76.92% decrease in their position. 0.03% of the stock is currently 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.