TC Energy Co. (TSE:TRP) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts have assigned TC Energy Co. a consensus rating of "Moderate Buy", with a target price of C$73.92 from the fifteen analysts covering the stock.
• Recently, TC Energy announced a quarterly dividend of $0.85, indicating a 5.25% yield and a dividend payout ratio of 76.37%.
• Insiders have sold a total of 45,070 shares valued at over $3 million in the last ninety days, while a senior officer also made a purchase of 14,000 shares.

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP has been given a consensus rating of "Moderate Buy" by the fifteen ratings firms that are currently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$73.92.

Several research analysts recently weighed in on the stock. Scotiabank boosted 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 report on Friday, May 2nd. Citigroup raised shares of TC Energy to a "hold" rating in a research report on Friday, April 4th. TD Securities boosted their price target on shares of TC Energy from C$74.00 to C$76.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. CIBC boosted their price objective on shares of TC Energy from C$71.00 to C$76.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd.

TC Energy Stock Up 2.6%

TSE TRP traded up C$1.66 on Monday, hitting C$66.68. 1,605,364 shares of the company were exchanged, compared to its average volume of 6,468,573. The company has a market cap of C$68.76 billion, a PE ratio of 13.26, a PEG ratio of 1.69 and a beta of 0.82. TC Energy has a 12 month low of C$52.83 and a 12 month high of C$71.12. The stock has a fifty day moving average of C$66.58 and a 200-day moving average of C$67.03. The company has a current ratio of 1.31, a quick ratio of 0.40 and a debt-to-equity ratio of 237.62.

TC Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 5.10%. TC Energy's dividend payout ratio is currently 76.37%.

Insider Activity

In related news, Senior Officer Anita Elizabeth Dusevic Oliva purchased 14,000 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were purchased at an average price of C$68.92 per share, with a total value of C$964,880.00. Also, Director Susanne Beaton sold 8,020 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of C$70.00, for a total transaction of C$561,400.00. Over the last 90 days, insiders have sold 45,070 shares of company stock worth $3,141,916. 0.03% of the stock is owned by corporate 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.