TC Energy (TSE:TRP) Price Target Raised to C$65.00

TC Energy (TSE:TRP - Free Report) NYSE: TRP had its price objective boosted by ATB Capital from C$64.00 to C$65.00 in a research note published on Friday morning,BayStreet.CA reports.

Other analysts have also recently issued reports about the company. Morgan Joseph raised TC Energy from an "underweight" rating to an "overweight" rating and upped their target price for the company from C$62.00 to C$78.00 in a research report on Friday, October 25th. 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. UBS Group upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 30th. JPMorgan Chase & Co. decreased their price target on TC Energy from C$66.00 to C$60.00 and set a "neutral" rating for the company in a report on Tuesday, October 8th. Finally, National Bankshares upped their price objective on shares of TC Energy from C$60.00 to C$70.00 in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of C$66.15.

TC Energy Stock Down 1.5 %

Shares of TSE TRP traded down C$1.01 during midday trading on Friday, hitting C$67.82. 3,536,000 shares of the company's stock were exchanged, compared to its average volume of 7,012,491. The firm's fifty day simple moving average is C$63.74 and its 200-day simple moving average is C$57.67. 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 cap of C$70.53 billion, a PE ratio of 20.49, a P/E/G ratio of 1.69 and a beta of 0.82. TC Energy has a twelve month low of C$43.83 and a twelve month high of C$69.61.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last posted its 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. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The firm had revenue of C$4.08 billion for the quarter, compared to the consensus estimate of C$3.90 billion. Research analysts predict that TC Energy will post 3.5490515 EPS 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. Investors of record on Tuesday, December 31st will be paid a $1.113 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $4.45 dividend on an annualized basis and a yield of 6.56%. This is a positive change from TC Energy's previous quarterly dividend of $0.96. TC Energy's dividend payout ratio is presently 116.01%.

Insiders Place Their Bets

In related news, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of TC Energy stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average cost of C$63.06 per share, for a total transaction of C$34,367.70. In other TC Energy news, Director Richard Prior sold 3,000 shares of the business's stock in a transaction on Friday, August 16th. The stock was sold at an average price of C$44.00, for a total value of C$132,000.00. Also, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of the firm's stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average price of C$63.06 per share, for a total transaction of C$34,367.70. Over the last 90 days, insiders sold 76,114 shares of company stock valued at $4,704,641. Corporate 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.