TC Energy Co. (TSE:TRP) Director Russell Mahan Sells 16,990 Shares

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP Director Russell Mahan sold 16,990 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of C$69.37, for a total transaction of C$1,178,548.73.

TC Energy Trading Down 0.6 %

TRP stock traded down C$0.43 during mid-day trading on Monday, hitting C$69.91. 210,601 shares of the company were exchanged, compared to its average volume of 6,496,876. The business has a fifty day simple moving average of C$67.37 and a 200-day simple moving average of C$67.00. The firm has a market capitalization of C$72.09 billion, a P/E ratio of 13.90, a PEG ratio of 1.69 and a beta of 0.82. TC Energy Co. has a 12-month low of C$46.07 and a 12-month high of C$70.97. The company has a quick ratio of 0.40, a current ratio of 1.31 and a debt-to-equity ratio of 237.62.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 4.86%. TC Energy's payout ratio is currently 76.37%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TRP. Jefferies Financial Group upped their target price on TC Energy from C$65.00 to C$71.00 in a report on Thursday, January 30th. Scotiabank raised their price target on shares of TC Energy from C$75.00 to C$77.00 and gave the stock an "outperform" rating in a research report on Friday. TD Securities raised their target price on shares of TC Energy from C$74.00 to C$76.00 and gave the stock a "buy" rating in a report on Friday. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday. Finally, CIBC raised their target price on TC Energy from C$71.00 to C$76.00 and gave the company an "outperform" rating in a research report on Friday. Six analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of C$74.17.

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.

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