TC Energy (TSE:TRP) Given New C$75.00 Price Target at Scotiabank

TC Energy (TSE:TRP) (NYSE:TRP) had its target price raised by Scotiabank from C$74.00 to C$75.00 in a research report report published on Wednesday morning,BayStreet.CA reports.

Several other equities research analysts also recently commented on the company. Jefferies Financial Group increased their price objective on TC Energy from C$57.00 to C$66.00 and gave the company a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company upped their price objective on shares of TC Energy from C$74.00 to C$76.00 in a report on Wednesday. CIBC lifted their target price on TC Energy from C$66.00 to C$67.00 in a report on Friday, November 8th. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 30th. Finally, National Bankshares lifted their price target on shares of TC Energy from C$60.00 to C$70.00 in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$69.54.

TC Energy Stock Down 1.2 %

Shares of TRP stock opened at C$68.79 on Wednesday. TC Energy has a 12-month low of C$43.83 and a 12-month high of C$70.24. 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 firm has a fifty day moving average of C$64.70 and a 200-day moving average of C$58.75. The company has a market capitalization of C$71.54 billion, a price-to-earnings 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 issued its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.06. The company 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, equities research analysts predict that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

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

Insider Activity at TC Energy

In related news, Director Colin Lindley sold 3,194 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of C$68.70, for a total transaction of C$219,425.56. Following the sale, the director now owns 697 shares of the company’s stock, valued at C$47,883.41. This trade represents a 82.09 % decrease in their position. Also, Senior Officer Dawn Elizabeth De Lima bought 555 shares of the stock in a transaction on Wednesday, September 18th. The stock was purchased at an average cost of C$62.82 per share, with a total value of C$34,865.66. In the last three months, insiders have sold 89,490 shares of company stock valued at $5,749,355. 0.03% of the stock is owned by insiders.

TC Energy Company Profile

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.