TC Energy Co. (TSE:TRP) Given Average Rating of “Hold” by Brokerages

Shares of TC Energy Co. (TSE:TRP) (NYSE:TRP) have earned a consensus rating of “Hold” from the fifteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is C$69.77.

Several brokerages have issued reports on TRP. Scotiabank raised their price objective on shares of TC Energy from C$74.00 to C$75.00 in a research report on Wednesday, November 20th. Raymond James raised TC Energy to a “hold” rating in a report on Thursday, November 21st. Royal Bank of Canada upped their price objective on TC Energy from C$67.00 to C$71.00 in a research note on Friday, November 8th. Jefferies Financial Group lifted their target price on TC Energy from C$64.00 to C$65.00 in a research note on Wednesday, November 20th. Finally, Morgan Joseph upgraded TC Energy from an “underweight” rating to an “overweight” rating and upped their price target for the stock from C$62.00 to C$78.00 in a research note on Friday, October 25th.

TC Energy Trading Up 0.9 %

TSE TRP opened at C$65.79 on Friday. The firm’s fifty day moving average price is C$66.72 and its 200 day moving average price is C$60.92. TC Energy has a 12 month low of C$43.83 and a 12 month high of C$70.32. 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 company has a market capitalization of C$68.42 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, beating the consensus estimate of C$0.97 by C$0.06. The business had revenue of C$4.08 billion during the quarter, compared to the consensus estimate of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. On average, sell-side analysts expect that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $1.113 dividend. This represents a $4.45 dividend on an annualized basis and a yield of 6.77%. This is a boost from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio is presently 116.01%.

Insiders Place Their Bets

In other TC Energy news, Senior Officer Stanley G. Chapman Iii sold 267,435 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of C$66.51, for a total transaction of C$17,785,898.39. Also, Director Richard Prior sold 18,068 shares of the firm’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. Over the last quarter, insiders sold 433,979 shares of company stock worth $29,064,889. 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.