Jefferies Financial Group Raises TC Energy (TSE:TRP) Price Target to C$66.00

TC Energy (TSE:TRP) (NYSE:TRP) had its target price raised by Jefferies Financial Group from C$57.00 to C$66.00 in a report issued on Monday, BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

A number of other research analysts have also issued reports on TRP. BMO Capital Markets increased their target price on TC Energy from C$57.00 to C$65.00 in a research report on Thursday, September 5th. Barclays increased their price objective on shares of TC Energy from C$61.00 to C$64.00 in a report on Monday, August 19th. National Bankshares boosted their target price on shares of TC Energy from C$60.00 to C$65.00 and gave the stock an outperform rating in a research note on Friday, August 23rd. ATB Capital raised their price target on shares of TC Energy from C$56.00 to C$60.00 and gave the company a sector perform rating in a research note on Tuesday, September 10th. Finally, Scotiabank cut their price objective on TC Energy from C$62.00 to C$61.00 and set an outperform rating for the company in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, TC Energy currently has a consensus rating of Moderate Buy and a consensus price target of C$58.38.

TC Energy Stock Down 0.1 %

TRP opened at C$59.40 on Monday. The company has a fifty day moving average of C$61.36 and a two-hundred day moving average of C$55.61. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. TC Energy has a fifty-two week low of C$44.70 and a fifty-two week high of C$65.39. The stock has a market capitalization of C$61.78 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 0.26 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.89 by C$0.05. The company had revenue of C$4.09 billion during the quarter, compared to analysts’ expectations of C$3.78 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. On average, research analysts expect that TC Energy will post 4.4244068 earnings per share for the current year.

TC Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.84 annualized dividend and a dividend yield of 6.46%. TC Energy’s dividend payout ratio is presently 116.01%.

Insider Buying and Selling

In other TC Energy news, Director Colin Lindley sold 2,773 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total value of C$164,761.40. Following the completion of the sale, the director now directly owns 697 shares in the company, valued at approximately C$41,413.16. In other TC Energy news, Director Colin Lindley sold 2,773 shares of TC Energy stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the transaction, the director now directly owns 697 shares of the company’s stock, valued at C$41,413.16. Also, Director Jawad Masud sold 6,041 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$63.50, for a total transaction of C$383,603.50. Over the last 90 days, insiders have sold 95,479 shares of company stock worth $5,860,018. 0.04% of the stock is owned by corporate insiders.

TC Energy Company Profile

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.