Barclays Increases TC Energy (TSE:TRP) Price Target to C$67.00

TC Energy (TSE:TRP) (NYSE:TRP) had its target price boosted by Barclays from C$66.00 to C$67.00 in a research report sent to investors on Monday morning, BayStreet.CA reports.

TRP has been the topic of several other reports. BMO Capital Markets dropped their target price on TC Energy from C$65.00 to C$55.00 and set a “market perform” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada lifted their price objective on shares of TC Energy from C$66.00 to C$67.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. decreased their target price 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. Scotiabank dropped their price target on shares of TC Energy from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Finally, National Bankshares decreased their price objective on shares of TC Energy from C$65.00 to C$60.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, TC Energy has an average rating of “Hold” and an average price target of C$60.58.

TC Energy Price Performance

TC Energy has a 52 week low of C$42.45 and a 52 week high of C$66.70. The stock’s 50-day simple moving average is C$62.62 and its 200 day simple moving average is C$56.49. The stock has a market capitalization of C$67.68 billion, a P/E ratio of 19.66, a P/E/G ratio of 1.69 and a beta of 0.82. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.89 by C$0.05. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The firm had revenue of C$4.09 billion during the quarter, compared to analysts’ expectations of C$3.78 billion. Research analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current year.

TC Energy Dividend Announcement

The company also recently declared 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. This represents a $3.84 annualized dividend and a dividend yield of ∞. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio is currently 116.01%.

Insider Buying and Selling

In other TC Energy news, Director Colin Lindley sold 2,773 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the completion of the sale, the director now owns 697 shares in the company, valued at C$41,413.16. The trade was a 0.00 % decrease in their ownership of the stock. In related news, Senior Officer Christine R. Johnston sold 16,292 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of C$59.71, for a total transaction of C$972,795.32. Following the completion of the transaction, the insider now owns 466 shares in the company, valued at C$27,824.86. The trade was a 0.00 % decrease in their position. Also, Director Colin Lindley sold 2,773 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total value of C$164,761.40. Following the completion of the sale, the director now directly owns 697 shares in the company, valued at C$41,413.16. This represents a 0.00 % decrease in their ownership of the stock. Insiders have sold 95,479 shares of company stock worth $5,860,018 over the last ninety days. 0.03% of the stock is owned by 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.