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

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective increased by ATB Capital from C$64.00 to C$65.00 in a report published on Friday,BayStreet.CA reports.

Several other research analysts have also commented on TRP. Morgan Joseph upgraded TC Energy from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from C$62.00 to C$78.00 in a research report on Friday, October 25th. Jefferies Financial Group lifted their price target on TC Energy from C$57.00 to C$66.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Barclays lifted their price target on TC Energy from C$66.00 to C$67.00 in a research report on Monday, October 21st. Scotiabank lifted their price target on TC Energy from C$68.00 to C$74.00 in a research report on Friday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of TC Energy from C$66.00 to C$60.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, TC Energy has a consensus rating of “Hold” and an average price target of C$66.15.

TC Energy Price Performance

Shares of TC Energy stock traded down C$1.01 during trading on Friday, reaching C$67.82. 3,536,000 shares of the stock traded hands, compared to its average volume of 7,012,491. The company has a market capitalization of C$70.53 billion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 1.69 and a beta of 0.82. The business has a fifty day simple moving average of C$63.74 and a two-hundred day simple moving average of C$57.67. 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 has a 52-week low of C$43.83 and a 52-week high of C$69.61.

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 for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.06. The firm had revenue of C$4.08 billion during the quarter, compared to analyst estimates of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. Sell-side analysts expect that TC Energy will post 3.5490515 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $1.113 per share. This represents a $4.45 annualized dividend and a yield of 6.56%. This is a positive change from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is presently 116.01%.

Insider Activity at TC Energy

In related news, Director Richard Prior sold 3,000 shares of TC Energy stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of C$44.00, for a total transaction of C$132,000.00. In related news, Director Richard Prior sold 3,000 shares of TC Energy stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of C$44.00, for a total transaction of C$132,000.00. Also, Director Rosemary K. Stevens sold 1,200 shares of TC Energy stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$59.88, for a total transaction of C$71,856.00. Following the transaction, the director now directly owns 987 shares in the company, valued at approximately C$59,101.56. The trade was a 0.00 % decrease in their ownership of the stock. Insiders have sold a total of 76,114 shares of company stock valued at $4,704,641 over the last ninety days. 0.03% of the stock is owned by company 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.