Jefferies Financial Group Increases TC Energy (TSE:TRP) Price Target to C$66.00

TC Energy (TSE:TRP) (NYSE:TRP) had its target price raised by Jefferies Financial Group from C$57.00 to C$66.00 in a report released on Monday, BayStreet.CA reports. They currently have a hold rating on the stock.

Several other equities research analysts have also weighed in on TRP. Wells Fargo & Company increased their price objective on shares of TC Energy from C$59.00 to C$64.00 in a research note on Tuesday, June 4th. ATB Capital increased their price target on TC Energy from C$56.00 to C$60.00 and gave the stock a sector perform rating in a research report on Tuesday, September 10th. Scotiabank cut their price target on TC Energy from C$62.00 to C$61.00 and set an outperform rating on the stock in a report on Wednesday, September 25th. BMO Capital Markets upped their price objective on TC Energy from C$57.00 to C$65.00 in a research note on Thursday, September 5th. Finally, Barclays increased their target price on TC Energy from C$61.00 to C$64.00 in a research report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TC Energy currently has a consensus rating of Moderate Buy and a consensus price target of C$59.23.

TC Energy Price Performance

Shares of TRP opened at C$60.12 on Monday. TC Energy has a 52 week low of C$44.70 and a 52 week high of C$65.39. 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 cap of C$62.52 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 0.26 and a beta of 0.82. The stock has a 50 day moving average of C$61.41 and a 200-day moving average of C$55.64.

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, topping analysts’ consensus estimates of C$0.89 by C$0.05. The firm had revenue of C$4.09 billion during 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, analysts forecast that TC Energy will post 4.4244068 EPS for the current year.

TC Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid 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 yield of 6.39%. TC Energy’s payout ratio is 116.01%.

Insiders Place Their Bets

In other news, Director Rosemary K. Stevens sold 1,200 shares of the 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 value of C$71,856.00. Following the completion of the transaction, the director now directly owns 987 shares in the company, valued at C$59,101.56. In other news, Senior Officer Dawn Elizabeth De Lima bought 545 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average cost of C$63.06 per share, with a total value of C$34,367.70. Also, Director Rosemary K. Stevens sold 1,200 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$59.88, for a total transaction of C$71,856.00. Following the completion of the sale, the director now owns 987 shares in the company, valued at C$59,101.56. In the last three months, insiders have sold 95,479 shares of company stock worth $5,860,018. 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.