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

Key Points

• TC Energy Co. has received a consensus rating of "Moderate Buy" from 16 brokerages, with a target price of C$74.46.
• The company recently declared a quarterly dividend of $0.85 per share, resulting in an annualized dividend yield of 4.7%.
• Insider transactions included significant share sales by two directors, amounting to a combined total of approximately C$6.6 million.

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP has been assigned an average recommendation of "Moderate Buy" from the sixteen analysts that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$74.46.

TRP has been the topic of a number of research reports. Citigroup set a C$75.00 price target on shares of TC Energy and gave the stock a "neutral" rating in a research note on Friday, September 5th. Jefferies Financial Group dropped their price target on shares of TC Energy from C$71.00 to C$68.00 in a research note on Wednesday, July 23rd. National Bankshares upped their price target on shares of TC Energy from C$75.00 to C$76.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. US Capital Advisors downgraded shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Finally, Barclays upped their price target on shares of TC Energy from C$74.00 to C$75.00 in a research note on Thursday, August 14th.

TC Energy Stock Down 0.3%

TSE:TRP traded down C$0.19 during trading hours on Tuesday, hitting C$72.46. 10,564,706 shares of the stock traded hands, compared to its average volume of 5,958,174. The firm has a 50 day moving average price of C$69.17 and a 200 day moving average price of C$68.16. 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 has a fifty-two week low of C$55.30 and a fifty-two week high of C$75.00. The firm has a market cap of C$75.33 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.69 and a beta of 0.92.

TC Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 4.7%. TC Energy's payout ratio is 85.36%.

Insider Buying and Selling at TC Energy

In other TC Energy news, Director Siim A. Vanaselja sold 40,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of C$70.07, for a total transaction of C$2,802,640.00. Following the transaction, the director directly owned 12,000 shares of the company's stock, valued at C$840,792. This represents a 76.92% decrease in their ownership of the stock. Also, Director Francois Lionel Poirier sold 53,946 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of C$70.49, for a total transaction of C$3,802,669.72. Following the transaction, the director directly owned 113,550 shares in the company, valued at C$8,004,173.57. The trade was a 32.21% decrease in their ownership of the stock. Corporate insiders own 0.03% of the company's stock.

About TC Energy

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system.