Barclays Issues Positive Forecast for TC Energy (TSE:TRP) Stock Price

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective hoisted by Barclays from C$67.00 to C$74.00 in a report released on Wednesday morning,BayStreet.CA reports.

Several other analysts have also weighed in on the company. Royal Bank of Canada boosted their price objective on TC Energy from C$67.00 to C$71.00 in a report on Friday, November 8th. Scotiabank upped their price target on TC Energy from C$74.00 to C$75.00 in a research report on Wednesday. UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. CIBC increased their target price on shares of TC Energy from C$67.00 to C$68.00 in a report on Wednesday. Finally, ATB Capital raised their price target on shares of TC Energy from C$64.00 to C$65.00 in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, TC Energy presently has a consensus rating of “Hold” and a consensus target price of C$69.54.

TC Energy Trading Down 1.2 %

TSE TRP opened at C$68.79 on Wednesday. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. The firm has a market capitalization of C$71.54 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 1.69 and a beta of 0.82. The company’s 50 day moving average price is C$64.70 and its 200 day moving average price is C$58.75. TC Energy has a one year low of C$43.83 and a one year high of C$70.24.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.97 by C$0.06. The company had revenue of C$4.08 billion during the quarter, compared to the consensus estimate of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. On average, sell-side analysts predict that TC Energy will post 3.5490515 EPS for the current year.

TC Energy Increases Dividend

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

Insider Transactions at TC Energy

In other news, Director Colin Lindley sold 3,194 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of C$68.70, for a total value of C$219,425.56. Following the completion of the sale, the director now owns 697 shares in the company, valued at C$47,883.41. This represents a 82.09 % decrease in their ownership of the stock. Also, Director Lindsay Mackay sold 3,520 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of C$70.00, for a total transaction of C$246,400.00. Over the last quarter, insiders sold 89,490 shares of company stock valued at $5,749,355. 0.03% of the stock is currently owned by corporate 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.