Royal Bank of Canada Increases TC Energy (TSE:TRP) Price Target to C$67.00

by · The Markets Daily

TC Energy (TSE:TRP – Free Report) (NYSE:TRP) had its price target upped by Royal Bank of Canada from C$66.00 to C$67.00 in a research report released on Thursday morning, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other research analysts also recently issued research reports about the company. UBS Group raised TC Energy from a hold rating to a strong-buy rating in a report on Monday, September 30th. BMO Capital Markets reduced their target price on TC Energy from C$65.00 to C$55.00 and set a market perform rating for the company in a research note on Wednesday. National Bankshares dropped their price target on shares of TC Energy from C$65.00 to C$60.00 and set an outperform rating for the company in a research note on Thursday. ATB Capital reduced their price objective on shares of TC Energy from C$60.00 to C$58.00 and set a sector perform rating on the stock in a research note on Thursday. Finally, Jefferies Financial Group raised their price objective on shares of TC Energy from C$57.00 to C$66.00 and gave the stock a hold rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, TC Energy presently has an average rating of Moderate Buy and a consensus price target of C$59.23.

Get Our Latest Research Report on TRP

TC Energy Stock Performance

The company has a fifty day moving average price of C$61.41 and a two-hundred day moving average price of C$55.64. The stock has a market capitalization of C$63.67 billion, a P/E ratio of 18.38, a PEG ratio of 0.26 and a beta of 0.82. TC Energy has a 52 week low of C$44.70 and a 52 week high of C$65.39. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84.

TC Energy (TSE:TRP – Get Free Report) (NYSE:TRP) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.89 by C$0.05. The company had revenue of C$4.09 billion during the quarter, compared to analysts’ expectations of C$3.78 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. Equities research analysts predict that TC Energy will post 4.4244068 EPS for the current year.

TC Energy Dividend Announcement

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. This represents a $3.84 dividend on an annualized basis and a dividend yield of ∞. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio is presently 116.01%.

Insiders Place Their Bets

In other news, Director Richard Prior sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of C$44.00, for a total transaction of C$132,000.00. In other TC Energy news, Director Richard Prior sold 3,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of C$44.00, for a total value of C$132,000.00. Also, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of TC Energy stock in a transaction dated 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. Insiders have sold 95,479 shares of company stock valued at $5,860,018 over the last quarter. Insiders own 0.04% of the company’s stock.

TC Energy Company Profile

(Get Free Report)

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.

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