TC Energy (TSE:TRP) Price Target Lowered to C$78.00 at Royal Bank of Canada

TC Energy (TSE:TRPGet Rating) (NYSE:TRP) had its price objective reduced by Royal Bank of Canada from C$79.00 to C$78.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently commented on TRP. Industrial Alliance Securities raised shares of TC Energy to a buy rating and set a C$74.00 target price on the stock in a report on Monday, April 4th. JPMorgan Chase & Co. lowered their price objective on shares of TC Energy from C$74.00 to C$73.00 in a research report on Wednesday, May 25th. National Bankshares lowered their price objective on shares of TC Energy from C$66.00 to C$65.00 and set a sector perform rating on the stock in a research report on Tuesday. Morgan Stanley lowered shares of TC Energy to a sell rating and set a C$78.00 price objective on the stock. in a research report on Tuesday, April 26th. Finally, Raymond James lowered their price objective on shares of TC Energy from C$68.00 to C$67.00 and set a market perform rating on the stock in a research report on Friday, July 29th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of C$70.14.

TC Energy Stock Performance

Shares of TC Energy stock opened at C$63.55 on Tuesday. The firm’s fifty day simple moving average is C$68.65 and its 200-day simple moving average is C$69.22. The stock has a market capitalization of C$62.53 billion and a price-to-earnings ratio of 19.80. TC Energy has a 12 month low of C$57.71 and a 12 month high of C$74.44. The company has a debt-to-equity ratio of 174.30, a current ratio of 0.64 and a quick ratio of 0.42.

TC Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be given a $0.90 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $3.60 annualized dividend and a dividend yield of 5.66%. TC Energy’s dividend payout ratio is presently 110.28%.

Insider Buying and Selling

In related news, Senior Officer G. Glenn Menuz sold 16,241 shares of the business’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of C$74.00, for a total value of C$1,201,834.00. In other news, Senior Officer Patrick C. Muttart bought 546 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was purchased at an average price of C$72.89 per share, with a total value of C$39,798.49. Following the purchase, the insider now owns 4,588 shares of the company’s stock, valued at approximately C$334,423.91. Also, Senior Officer G. Glenn Menuz sold 16,241 shares of the business’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of C$74.00, for a total transaction of C$1,201,834.00. Insiders have sold 56,687 shares of company stock worth $4,175,237 in the last three months.

TC Energy Company Profile

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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 Storage. The company builds and operates 93,300 km network 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.

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