Wells Fargo & Company Boosts TC Energy (TSE:TRP) Price Target to C$76.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target raised by Wells Fargo & Company from C$74.00 to C$76.00 in a report published on Wednesday morning,BayStreet.CA reports.

TRP has been the subject of several other reports. BMO Capital Markets increased their target price on shares of TC Energy from C$55.00 to C$66.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on TC Energy from C$70.00 to C$79.00 in a research note on Monday. CIBC boosted their target price on TC Energy from C$66.00 to C$67.00 in a research report on Friday, November 8th. Veritas upgraded TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, ATB Capital boosted their price objective on TC Energy from C$64.00 to C$65.00 in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$69.54.

TC Energy Stock Performance

Shares of TRP opened at C$68.79 on Wednesday. The firm has a market capitalization of C$71.54 billion, a PE ratio of 20.78, a P/E/G ratio of 1.69 and a beta of 0.82. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. The firm has a 50-day moving average price of C$64.70 and a 200 day moving average price of C$58.75. TC Energy has a 52-week low of C$43.83 and a 52-week high of C$70.24.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, topping analysts’ consensus estimates of C$0.97 by C$0.06. The company had revenue of C$4.08 billion for the quarter, compared to the consensus estimate of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. On average, sell-side analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.47%. TC Energy’s payout ratio is presently 116.01%.

Insider Buying and Selling

In other news, Senior Officer Patrick M. Keys sold 17,127 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of C$62.71, for a total transaction of C$1,074,049.58. Also, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of the business’s stock in a transaction dated 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. In the last 90 days, insiders sold 89,490 shares of company stock valued at $5,749,355. 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.