TC Energy Co. (TSE:TRP) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP have received a consensus rating of "Moderate Buy" from the sixteen research firms that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$74.17.

TRP has been the subject of several research reports. Royal Bank of Canada upped their target price on TC Energy from C$71.00 to C$74.00 in a research note on Tuesday, February 18th. Scotiabank upped their target price on 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. TD Securities increased their price objective on TC Energy from C$74.00 to C$76.00 and gave the company a "buy" 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 research note on Friday, May 2nd. Finally, CIBC increased their price objective on 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.

TC Energy Price Performance

TRP traded down C$0.09 during midday trading on Friday, hitting C$67.72. The stock had a trading volume of 4,999,605 shares, compared to its average volume of 5,724,411. The company has a market cap of C$69.83 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The business has a fifty day moving average of C$68.31 and a 200 day moving average of C$67.49. 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 1 year low of C$46.07 and a 1 year high of C$71.12.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 5.02%. TC Energy's dividend payout ratio (DPR) is presently 76.37%.

Insiders Place Their Bets

In other news, Director Trevor Ebl acquired 1,470 shares of the firm's stock in a transaction on Friday, March 14th. The stock was acquired at an average price of C$67.85 per share, for a total transaction of C$99,732.15. Also, Director Joshua Gibbon acquired 600 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was purchased at an average price of C$69.15 per share, with a total value of C$41,492.88. In the last ninety days, insiders purchased 17,887 shares of company stock worth $1,231,890 and sold 135,272 shares worth $9,403,527. Company insiders own 0.03% of the company's stock.

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.