TC Energy Co. (TSE:TRP) Receives C$55.35 Consensus Price Target from Analysts

TC Energy Co. (TSE:TRP) (NYSE:TRP) has earned an average rating of “Hold” from the eleven research firms that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is C$55.35.

Several equities research analysts have recently issued reports on TRP shares. Jefferies Financial Group set a C$57.00 price objective on TC Energy and gave the company a “hold” rating in a research note on Tuesday, February 27th. Barclays lifted their price objective on shares of TC Energy from C$53.00 to C$55.00 in a research note on Monday, January 29th. Royal Bank of Canada reduced their target price on shares of TC Energy from C$54.00 to C$49.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 20th. TD Securities lifted their price target on shares of TC Energy from C$50.00 to C$51.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus set a C$61.00 price objective on shares of TC Energy and gave the stock a “buy” rating in a research report on Thursday, January 18th.

TC Energy Trading Down 0.3 %

Shares of TRP opened at C$49.60 on Tuesday. The stock has a market capitalization of C$51.58 billion, a PE ratio of 18.04, a P/E/G ratio of 0.26 and a beta of 0.73. The company’s fifty day moving average is C$53.17 and its 200 day moving average is C$51.44. The company has a debt-to-equity ratio of 163.32, a quick ratio of 0.40 and a current ratio of 0.96. TC Energy has a fifty-two week low of C$43.70 and a fifty-two week high of C$56.98.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results on Friday, February 16th. The company reported C$1.35 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.08 by C$0.27. TC Energy had a net margin of 18.34% and a return on equity of 8.39%. The firm had revenue of C$4.24 billion for the quarter, compared to the consensus estimate of C$3.94 billion. Sell-side analysts expect that TC Energy will post 4.1789916 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.84 annualized dividend and a dividend yield of 7.74%. This is a positive change from TC Energy’s previous quarterly dividend of $0.93. TC Energy’s dividend payout ratio (DPR) is currently 139.64%.

Insider Buying and Selling

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima bought 2,600 shares of the business’s stock in a transaction on Monday, March 25th. The shares were acquired at an average price of C$55.04 per share, with a total value of C$143,104.00. In related news, Director Alexis A.J. Hudy purchased 875 shares of TC Energy stock in a transaction dated Monday, March 25th. The stock was purchased at an average cost of C$54.97 per share, with a total value of C$48,098.75. Following the transaction, the director now owns 875 shares in the company, valued at approximately C$48,098.75. Also, Senior Officer Dawn Elizabeth De Lima acquired 2,600 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were bought at an average cost of C$55.04 per share, for a total transaction of C$143,104.00. Insiders acquired a total of 4,526 shares of company stock valued at $248,609 over the last three months. 0.04% of the stock is owned by company insiders.

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.