TC Energy (TSE:TRP) Price Target Raised to C$74.00 at Barclays

TC Energy (TSE:TRP) (NYSE:TRP) had its target price upped by Barclays from C$67.00 to C$74.00 in a research report sent to investors on Wednesday,BayStreet.CA reports.

Other equities research analysts also recently issued research reports about the stock. National Bankshares increased their target price on shares of TC Energy from C$70.00 to C$71.00 in a research note on Wednesday. Royal Bank of Canada lifted their price objective on TC Energy from C$67.00 to C$71.00 in a report on Friday, November 8th. Scotiabank lifted their price target on TC Energy from C$74.00 to C$75.00 in a research note on Wednesday. BMO Capital Markets increased their price objective on TC Energy from C$66.00 to C$70.00 in a research report on Wednesday. Finally, UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$69.54.

TC Energy Stock Down 1.2 %

Shares of TC Energy stock opened at C$68.79 on Wednesday. TC Energy has a 52-week low of C$43.83 and a 52-week high of C$70.24. The company has a 50 day moving average of C$64.70 and a 200 day moving average of C$58.75. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. The company has a market capitalization of C$71.54 billion, a P/E ratio of 20.78, a P/E/G ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, beating the consensus estimate of C$0.97 by C$0.06. The firm had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. As a group, research analysts forecast that TC Energy will post 3.5490515 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $1.113 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 annualized dividend and a dividend yield of 6.47%. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio is currently 116.01%.

Insider Buying and Selling

In other TC Energy news, Director Richard Prior sold 18,068 shares of TC Energy stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of C$63.00, for a total value of C$1,138,284.00. Also, Director Lindsay Mackay sold 3,520 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of C$70.00, for a total value of C$246,400.00. In the last quarter, insiders sold 89,490 shares of company stock worth $5,749,355. 0.03% of the stock is owned by corporate insiders.

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.