TC Energy (TSE:TRP) Given New C$71.00 Price Target at National Bankshares

TC Energy (TSE:TRP) (NYSE:TRP) had its target price hoisted by National Bankshares from C$70.00 to C$71.00 in a research report report published on Wednesday,BayStreet.CA reports.

Other equities analysts also recently issued research reports about the company. UBS Group raised TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. increased their target price on shares of TC Energy from C$70.00 to C$79.00 in a research note on Monday. Royal Bank of Canada lifted their price target on shares of TC Energy from C$67.00 to C$71.00 in a research note on Friday, November 8th. Scotiabank increased their price objective on shares of TC Energy from C$74.00 to C$75.00 in a research report on Wednesday. Finally, Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$69.54.

TC Energy Price Performance

TRP stock opened at C$68.79 on Wednesday. The company has a fifty day simple moving average of C$64.70 and a two-hundred day simple moving average of C$58.75. TC Energy has a 52 week low of C$43.83 and a 52 week 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 market capitalization of C$71.54 billion, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last announced 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. 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 during the quarter, compared to the consensus estimate of C$3.90 billion. Analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

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

Insider Transactions at TC Energy

In related news, Director Colin Lindley sold 3,194 shares of the company’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 completion of the sale, the director now directly owns 697 shares in the company, valued at C$47,883.41. This represents a 82.09 % decrease in their position. Also, Senior Officer Dawn Elizabeth De Lima bought 545 shares of TC Energy stock in a transaction on Tuesday, September 24th. The stock was purchased at an average price of C$63.06 per share, with a total value of C$34,367.70. In the last quarter, insiders sold 89,490 shares of company stock valued at $5,749,355. Company 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.