Jefferies Financial Group Boosts TC Energy (TSE:TRP) Price Target to C$71.00

TC Energy (TSE:TRP) (NYSE:TRP) had its target price boosted by Jefferies Financial Group from C$65.00 to C$71.00 in a research report released on Thursday morning,BayStreet.CA reports.

A number of other research analysts have also commented on the company. Scotiabank upped their price objective on TC Energy from C$74.00 to C$75.00 in a report on Wednesday, November 20th. CIBC upped their price target on shares of TC Energy from C$68.00 to C$70.00 and gave the company a “neutral” rating in a research note on Thursday, January 9th. Barclays lifted their price objective on shares of TC Energy from C$67.00 to C$74.00 in a research note on Wednesday, November 20th. Wells Fargo & Company increased their target price on shares of TC Energy from C$74.00 to C$76.00 in a research report on Wednesday, November 20th. Finally, Morgan Joseph upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating and lifted their price target for the company from C$62.00 to C$78.00 in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$73.00.

TC Energy Stock Performance

TSE TRP opened at C$65.50 on Thursday. The stock has a market cap of C$68.12 billion, a PE ratio of 19.79, a P/E/G ratio of 1.69 and a beta of 0.82. 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 50-day moving average of C$67.39 and a 200-day moving average of C$63.72. TC Energy has a 52-week low of C$43.83 and a 52-week high of C$70.32.

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, topping the consensus estimate of C$0.97 by C$0.06. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The firm had revenue of C$4.08 billion during the quarter, compared to the consensus estimate of C$3.90 billion. On average, sell-side analysts anticipate 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 paid a $1.113 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 annualized dividend and a yield of 6.80%. TC Energy’s dividend payout ratio (DPR) is 116.01%.

Insiders Place Their Bets

In related news, Director Alexander (Alex) Oehler purchased 6,540 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average cost of C$66.05 per share, with a total value of C$431,947.64. Also, Director Jawad Masud sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of C$66.50, for a total transaction of C$332,500.00. Over the last 90 days, insiders sold 420,911 shares of company stock valued at $28,259,105. 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.