Scotiabank Trims TC Energy (TSE:TRP) Target Price to C$61.00

TC Energy (TSE:TRP) (NYSE:TRP) had its target price cut by Scotiabank from C$62.00 to C$61.00 in a research note released on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities analysts also recently commented on the company. Jefferies Financial Group upped their target price on TC Energy from C$52.00 to C$57.00 and gave the company a hold rating in a research report on Monday, July 29th. Wells Fargo & Company increased their price objective on TC Energy from C$59.00 to C$64.00 in a research report on Tuesday, June 4th. CIBC boosted their target price on shares of TC Energy from C$56.00 to C$59.00 in a research report on Monday, July 15th. ATB Capital lifted their price objective on shares of TC Energy from C$56.00 to C$60.00 and gave the stock a sector perform rating in a research note on Tuesday, September 10th. Finally, Barclays increased their target price on shares of TC Energy from C$61.00 to C$64.00 in a research report on Monday, August 19th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of C$58.62.

TC Energy Stock Down 0.6 %

TRP stock opened at C$63.18 on Wednesday. TC Energy has a 1-year low of C$44.70 and a 1-year high of C$64.83. The business’s 50 day simple moving average is C$60.87 and its 200 day simple moving average is C$55.37. 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 firm has a market capitalization of C$65.71 billion, a PE ratio of 19.07, a PEG ratio of 0.26 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, beating the consensus estimate of C$0.89 by C$0.05. The firm had revenue of C$4.09 billion for the quarter, compared to the consensus estimate of C$3.78 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. As a group, research analysts anticipate that TC Energy will post 4.5431472 EPS for the current year.

TC Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.84 annualized dividend and a dividend yield of 6.08%. TC Energy’s dividend payout ratio is currently 116.01%.

Insider Activity at TC Energy

In other TC Energy news, Director Richard Prior sold 18,068 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total transaction of C$1,138,284.00. In other TC Energy news, Director Richard Prior sold 18,068 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of C$63.00, for a total transaction of C$1,138,284.00. Also, Director Colin Lindley sold 2,773 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the transaction, the director now owns 697 shares of the company’s stock, valued at C$41,413.16. Insiders have sold 95,479 shares of company stock valued at $5,860,018 over the last ninety days. 0.04% of the stock is owned by corporate 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.