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

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.

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 Ratings reports. Seven 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 1-year target price among brokers that have issued ratings on the stock in the last year is C$74.46.

A number of brokerages recently weighed in on TRP. Jefferies Financial Group decreased their price objective on TC Energy from C$71.00 to C$68.00 in a report on Wednesday, July 23rd. 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. US Capital Advisors cut TC Energy from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 21st. Citigroup set a C$75.00 price objective on TC Energy and gave the company a "neutral" rating in a report on Friday, September 5th. Finally, Barclays raised their price objective on TC Energy from C$74.00 to C$75.00 in a report on Thursday, August 14th.

TC Energy Stock Performance

TSE:TRP opened at C$71.98 on Tuesday. The business's 50-day moving average price is C$68.55 and its two-hundred day moving average price is C$68.00. TC Energy has a twelve month low of C$55.30 and a twelve month high of C$72.69. The stock has a market cap of C$74.83 billion, a P/E ratio of 17.64, a PEG ratio of 1.69 and a beta of 0.92. The company has a quick ratio of 0.40, a current ratio of 1.31 and a debt-to-equity ratio of 237.62.

TC Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 Activity at TC Energy

In related news, Director Siim A. Vanaselja sold 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was 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 in the company, valued at C$840,792. This trade represents a 76.92% decrease in their position. Also, Director Francois Lionel Poirier sold 53,946 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of C$70.49, for a total value of C$3,802,669.72. Following the transaction, the director owned 113,550 shares in the company, valued at approximately C$8,004,173.57. The trade was a 32.21% decrease in their ownership of the stock. 0.03% of the stock is owned by company insiders.

TC Energy Company Profile

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.

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