Wells Fargo & Company Raises TC Energy (TSE:TRP) Price Target to C$64.00

TC Energy (TSE:TRPFree Report) (NYSE:TRP) had its target price upped by Wells Fargo & Company from C$59.00 to C$64.00 in a research report report published on Tuesday, BayStreet.CA reports.

Several other equities research analysts also recently weighed in on TRP. Royal Bank of Canada decreased their target price on TC Energy from C$54.00 to C$49.00 and set an outperform rating for the company in a research report on Tuesday, February 20th. Scotiabank lifted their price objective on shares of TC Energy from C$55.00 to C$58.00 and gave the company an outperform rating in a research note on Tuesday, February 20th. TD Securities boosted their target price on shares of TC Energy from C$50.00 to C$51.00 and gave the stock a hold rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. raised their price target on shares of TC Energy from C$58.00 to C$59.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Finally, Jefferies Financial Group boosted their price objective on shares of TC Energy from C$51.00 to C$52.00 and gave the stock a hold rating in a report on Monday, May 6th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of C$54.94.

Read Our Latest Report on TC Energy

TC Energy Price Performance

Shares of TSE:TRP opened at C$54.18 on Tuesday. The business has a fifty day simple moving average of C$51.57 and a 200-day simple moving average of C$52.35. TC Energy has a 52 week low of C$43.70 and a 52 week high of C$55.91. The company has a market cap of C$56.35 billion, a P/E ratio of 20.84, a P/E/G ratio of 0.26 and a beta of 0.74. The company has a quick ratio of 0.40, a current ratio of 0.94 and a debt-to-equity ratio of 163.01.

TC Energy (TSE:TRPGet Free Report) (NYSE:TRP) last released its quarterly earnings data on Friday, May 3rd. The company reported C$1.24 earnings per share for the quarter, beating the consensus estimate of C$1.14 by C$0.10. The business had revenue of C$4.24 billion for the quarter, compared to analyst estimates of C$4.26 billion. TC Energy had a return on equity of 8.37% and a net margin of 17.31%. Equities research analysts forecast that TC Energy will post 4.1883013 EPS for the current year.

TC Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a $0.96 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.84 annualized dividend and a dividend yield of 7.09%. TC Energy’s payout ratio is 147.69%.

Insider Activity at TC Energy

In other TC Energy news, Director Kevin B. Engel sold 2,514 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of C$54.33, for a total transaction of C$136,593.16. Following the sale, the director now directly owns -29 shares of the company’s stock, valued at C($1,575.66). In other news, Director Kevin B. Engel sold 2,514 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of C$54.33, for a total transaction of C$136,593.16. Following the sale, the director now directly owns -29 shares in the company, valued at approximately C($1,575.66). Also, Director Alexis A.J. Hudy purchased 875 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was bought at an average cost of C$54.97 per share, for a total transaction of C$48,098.75. Following the acquisition, the director now owns 875 shares in the company, valued at approximately C$48,098.75. In the last ninety days, insiders have bought 4,526 shares of company stock valued at $248,609. Corporate insiders own 0.04% of the company’s stock.

TC Energy Company Profile

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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.

Further Reading

Analyst Recommendations for TC Energy (TSE:TRP)

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