TC Energy (TSE:TRP) Stock Price Expected to Rise, Scotiabank Analyst Says

TC Energy (TSE:TRP - Free Report) NYSE: TRP had its price target boosted by Scotiabank from C$68.00 to C$74.00 in a research report sent to investors on Friday,BayStreet.CA reports.

Several other brokerages have also weighed in on TRP. Barclays increased their price objective on shares of TC Energy from C$66.00 to C$67.00 in a research report on Monday, October 21st. Veritas raised TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. Royal Bank of Canada increased their price target on shares of TC Energy from C$66.00 to C$67.00 and gave the stock an "outperform" rating in a research report on Thursday, October 3rd. Morgan Joseph upgraded TC Energy from an "underweight" rating to an "overweight" rating and lifted their target price for the company from C$62.00 to C$78.00 in a research report on Friday, October 25th. Finally, CIBC lowered their price target on shares of TC Energy from C$62.00 to C$57.00 and set a "negative" rating for the company in a report on Wednesday, October 2nd. Two 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. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of C$66.15.

TC Energy Trading Down 1.5 %

Shares of TC Energy stock traded down C$1.01 on Friday, hitting C$67.82. 3,536,000 shares of the company's stock traded hands, compared to its average volume of 7,012,491. TC Energy has a one year low of C$43.83 and a one year high of C$69.61. The firm's 50-day moving average price is C$63.74 and its two-hundred day moving average price 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 stock has a market capitalization of C$70.53 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last posted its quarterly earnings data 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. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The business had revenue of C$4.08 billion for the quarter, compared to analysts' expectations of C$3.90 billion. On average, research analysts expect that TC Energy will post 3.5490515 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $1.113 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $4.45 annualized dividend and a yield of 6.56%. This is an increase from TC Energy's previous quarterly dividend of $0.96. TC Energy's dividend payout ratio (DPR) is presently 116.01%.

Insider Transactions at TC Energy

In other news, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of the stock in a transaction that occurred on 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, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of the company's stock in a transaction that occurred on Tuesday, September 24th. The stock was bought at an average price of C$63.06 per share, with a total value of C$34,367.70. Also, Director Rosemary K. Stevens sold 1,200 shares of the company's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$59.88, for a total value of C$71,856.00. Following the completion of the transaction, the director now owns 987 shares in the company, valued at C$59,101.56. This represents a 0.00 % decrease in their ownership of the stock. Insiders sold a total of 76,114 shares of company stock valued at $4,704,641 over the last ninety days. 0.03% of the stock is currently 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.