TC Energy Co. (TSE:TRP) Receives C$74.17 Average PT from Analysts

TC Energy Co. (TSE:TRP) (NYSE:TRP) has been assigned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is C$74.17.

A number of brokerages have commented on TRP. CIBC upped their price objective on shares of TC Energy from C$71.00 to C$76.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Citigroup upgraded shares of TC Energy to a “hold” rating in a report on Friday, April 4th. Cibc World Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 2nd. TD Securities increased their price target on shares of TC Energy from C$74.00 to C$76.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, Scotiabank increased their price target on shares of TC Energy from C$75.00 to C$77.00 and gave the company an “outperform” rating in a report on Friday, May 2nd.

Insider Buying and Selling at TC Energy

In related news, Senior Officer Anita Elizabeth Dusevic Oliva acquired 14,000 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were acquired at an average cost of C$68.92 per share, for a total transaction of C$964,880.00. Also, Director Russell Mahan sold 16,990 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of C$69.37, for a total transaction of C$1,178,548.73. Over the last 90 days, insiders sold 45,070 shares of company stock worth $3,141,916. 0.03% of the stock is currently owned by insiders.

TC Energy Stock Down 0.2%

TRP stock opened at C$65.43 on Thursday. The company has a market cap of C$67.47 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40. TC Energy has a 12 month low of C$46.07 and a 12 month high of C$71.12. The company has a fifty day moving average price of C$68.08 and a 200 day moving average price of C$67.29.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 5.20%. TC Energy’s payout ratio is currently 76.37%.

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.