TC Energy (TSE:TRP) PT Lowered to C$65.00

TC Energy (TSE:TRP – Get Rating) (NYSE:TRP) had its target price decreased by National Bankshares from C$66.00 to C$65.00 in a report released on Tuesday morning, BayStreet.CA reports. National Bankshares currently has a sector perform rating on the stock.

A number of other research firms also recently weighed in on TRP. Raymond James cut their price target on TC Energy from C$68.00 to C$67.00 and set a market perform rating for the company in a research note on Friday, July 29th. CSFB cut their price target on TC Energy from C$80.00 to C$74.50 in a research note on Friday, July 22nd. CIBC downgraded TC Energy from an outperform rating to a neutral rating and cut their price target for the stock from C$76.00 to C$74.00 in a research note on Friday, July 29th. Wolfe Research downgraded TC Energy to a sell rating and set a C$57.00 price objective on the stock. in a research note on Monday, April 11th. Finally, Scotiabank cut their price objective on TC Energy from C$78.00 to C$76.00 in a research note on Friday, July 29th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of C$70.14.

TC Energy Trading Down 3.2 %

Shares of TSE TRP opened at C$63.55 on Tuesday. TC Energy has a one year low of C$57.71 and a one year high of C$74.44. The firm has a market capitalization of C$62.53 billion and a PE ratio of 19.80. The company has a current ratio of 0.64, a quick ratio of 0.42 and a debt-to-equity ratio of 174.30. The business has a 50-day moving average price of C$68.65 and a two-hundred day moving average price of C$69.22.

TC Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 5.66%. The ex-dividend date of this dividend is Thursday, September 29th. TC Energy’s payout ratio is presently 110.28%.

Insider Transactions at TC Energy

In other news, Director Richard Prior acquired 500 shares of the firm’s stock in a transaction dated Thursday, June 16th. The shares were bought at an average price of C$66.49 per share, with a total value of C$33,245.00. Following the acquisition, the director now owns 11,875 shares of the company’s stock, valued at C$789,568.75. In other news, Director Richard Prior acquired 500 shares of the firm’s stock in a transaction dated Thursday, June 16th. The shares were bought at an average price of C$66.49 per share, with a total value of C$33,245.00. Following the acquisition, the director now owns 11,875 shares of the company’s stock, valued at C$789,568.75. Also, Senior Officer Patrick C. Muttart purchased 546 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The stock was bought at an average cost of C$72.89 per share, for a total transaction of C$39,798.49. Following the purchase, the insider now owns 4,588 shares in the company, valued at C$334,423.91. In the last quarter, insiders have sold 56,687 shares of company stock valued at $4,175,237.

About TC Energy

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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 Storage. The company builds and operates 93,300 km network 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.