Analysts Set TC Energy Co. (TSE:TRP) PT at C$74.42

Key Points

• TC Energy Co. has received a consensus rating of "Moderate Buy" from analysts, with an average target price of C$74.42.
• The company recently declared a quarterly dividend of $0.85 per share, representing a dividend yield of 4.7%.
• Insider activity includes significant stock sales, with Director Alexandra M. Costello selling over 6,000 shares and Director Russell Mahan selling over 11,000 shares in recent transactions.

Shares of TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP have earned an average rating of "Moderate Buy" from the sixteen ratings firms that are covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$74.42.

TRP has been the subject of a number of analyst reports. Scotiabank increased their target price on shares of TC Energy from C$75.00 to C$77.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. National Bankshares raised their price objective on TC Energy from C$75.00 to C$76.00 and gave the company an "outperform" rating in a report on Friday, August 1st. CIBC boosted their price objective on TC Energy from C$71.00 to C$76.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Jefferies Financial Group decreased their target price on TC Energy from C$71.00 to C$68.00 in a research report on Wednesday, July 23rd.

Insider Activity

In related news, Director Alexandra M. Costello sold 6,159 shares of TC Energy stock in a transaction dated Monday, May 26th. The stock was sold at an average price of C$69.55, for a total value of C$428,378.77. Also, Director Russell Mahan sold 11,424 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of C$70.22, for a total value of C$802,193.28. 0.03% of the stock is owned by company insiders.

TC Energy Stock Performance

TSE TRP traded down C$0.82 during mid-day trading on Friday, reaching C$70.80. 3,691,022 shares of the stock were exchanged, compared to its average volume of 6,150,399. The company has a market capitalization of C$73.01 billion, a P/E ratio of 14.08, a P/E/G ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. The business's 50 day moving average is C$66.65 and its 200-day moving average is C$67.31. TC Energy has a 1 year low of C$55.27 and a 1 year high of C$72.25.

TC Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 4.8%. TC Energy's payout ratio is 76.37%.

TC Energy Company Profile

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.