TC Energy Co. (TSE:TRP) Receives Average Rating of "Moderate Buy" from Analysts

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP has been given a consensus recommendation of "Moderate Buy" by the sixteen ratings firms that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$74.17.

TRP has been the subject of several recent research reports. Royal Bank of Canada upped their target price on TC Energy from C$71.00 to C$74.00 in a report on Tuesday, February 18th. Citigroup raised TC Energy to a "hold" rating in a report on Friday, April 4th. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. CIBC upped their target price on TC Energy from C$71.00 to C$76.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, TD Securities increased their price objective on TC Energy from C$74.00 to C$76.00 and gave the stock a "buy" rating in a report on Friday, May 2nd.

Insider Activity

In related news, Director Russell Mahan sold 11,424 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of C$70.22, for a total value of C$802,193.28. Also, Director Troy Tally sold 2,477 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of C$69.19, for a total transaction of C$171,395.07. Over the last 90 days, insiders bought 17,887 shares of company stock worth $1,231,890 and sold 140,361 shares worth $9,745,446. 0.03% of the stock is currently owned by corporate insiders.

TC Energy Trading Down 1.0%

TSE:TRP opened at C$69.48 on Friday. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. TC Energy has a one year low of C$46.07 and a one year high of C$71.12. The business's 50-day simple moving average is C$68.33 and its 200 day simple moving average is C$67.55. The stock has a market cap of C$71.65 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

TC Energy Cuts Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 4.89%. TC Energy's dividend payout ratio (DPR) is currently 76.37%.

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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