Scotiabank Raises TC Energy (TSE:TRP) Price Target to C$75.00

TC Energy (TSE:TRP) (NYSE:TRP) had its target price raised by Scotiabank from C$74.00 to C$75.00 in a research note issued to investors on Wednesday morning,BayStreet.CA reports.

Other equities analysts have also issued research reports about the stock. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. CIBC upped their target price on TC Energy from C$66.00 to C$67.00 in a research report on Friday, November 8th. BMO Capital Markets raised their target price on TC Energy from C$55.00 to C$66.00 in a research note on Friday, November 8th. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Finally, National Bankshares raised their price objective on shares of TC Energy from C$60.00 to C$70.00 in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, TC Energy has a consensus rating of “Hold” and a consensus price target of C$69.54.

TC Energy Trading Down 1.2 %

Shares of TRP stock opened at C$68.79 on Wednesday. TC Energy has a 1-year low of C$43.83 and a 1-year high of C$70.24. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. The stock has a market cap 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 stock has a 50-day moving average of C$64.70 and a 200-day moving average of C$58.75.

TC Energy (TSE:TRP) (NYSE:TRP) last released its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.06. The business 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, equities research analysts forecast that TC Energy will post 3.5490515 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently declared 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 is a boost from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $4.45 annualized dividend and a yield of 6.47%. TC Energy’s dividend payout ratio (DPR) is presently 116.01%.

Insiders Place Their Bets

In other news, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were bought at an average cost of C$63.06 per share, with a total value of C$34,367.70. Also, Director Lindsay Mackay sold 3,520 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of C$70.00, for a total transaction of C$246,400.00. In the last ninety days, insiders sold 89,490 shares of company stock valued at $5,749,355. Corporate insiders own 0.03% of the company’s stock.

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.