Insider Selling: TC Energy Co. (TSE:TRP) Director Sells 3,520 Shares of Stock

TC Energy Co. (TSE:TRP) (NYSE:TRP) Director Lindsay Mackay sold 3,520 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of C$70.00, for a total transaction of C$246,400.00.

TC Energy Price Performance

TRP opened at C$68.79 on Thursday. The business’s 50-day moving average is C$64.70 and its two-hundred day moving average is C$58.75. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. TC Energy Co. has a 1 year low of C$43.83 and a 1 year high of C$70.24. The firm has a market capitalization of C$71.54 billion, a PE 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 earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, topping the consensus estimate of C$0.97 by C$0.06. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The firm had revenue of C$4.08 billion for the quarter, compared to the consensus estimate of C$3.90 billion. Research analysts anticipate that TC Energy Co. will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $1.113 dividend. This represents a $4.45 annualized dividend and a dividend yield of 6.47%. This is an increase from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio is presently 116.01%.

Wall Street Analyst Weigh In

TRP has been the subject of a number of research analyst reports. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Wells Fargo & Company lifted their price target on shares of TC Energy from C$74.00 to C$76.00 in a research note on Wednesday. Royal Bank of Canada increased their price objective on TC Energy from C$67.00 to C$71.00 in a research note on Friday, November 8th. Scotiabank lifted their target price on TC Energy from C$74.00 to C$75.00 in a research report on Wednesday. Finally, CIBC increased their price target on TC Energy from C$67.00 to C$68.00 in a research report on Wednesday. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$69.54.

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.