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

Key Points

• TC Energy Co. has received a consensus rating of "Moderate Buy" from analysts, with targets averaging around C$74.54.
• The company recently announced a quarterly dividend of $0.85, translating to an annual yield of 4.6%.
• Insider trading activity has seen significant share sales by directors, indicating potential shifts in confidence levels among key stakeholders.

Shares of TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP have been assigned a consensus recommendation of "Moderate Buy" from the ten analysts that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$74.54.

A number of research analysts recently weighed in on TRP shares. US Capital Advisors downgraded shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Citigroup set a C$75.00 target price on shares of TC Energy and gave the company a "neutral" rating in a research report on Friday, September 5th. Jefferies Financial Group decreased their target price on shares of TC Energy from C$71.00 to C$68.00 in a research report on Wednesday, July 23rd. CIBC downgraded shares of TC Energy from an "outperform" rating to a "neutral" rating and raised their target price for the company from C$76.00 to C$77.00 in a research report on Thursday. Finally, Cibc World Mkts downgraded shares of TC Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday.

TC Energy Stock Up 0.0%

TC Energy stock opened at C$73.93 on Friday. The company has a market cap of C$76.86 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 1.69 and a beta of 0.84. TC Energy has a 1-year low of C$61.96 and a 1-year high of C$77.26. The company has a fifty day simple moving average of C$72.00 and a 200 day simple moving average of C$68.88. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 4.6%. TC Energy's dividend payout ratio is currently 85.36%.

Insiders Place Their Bets

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 value of C$2,802,640.00. Following the completion of the sale, the director owned 12,000 shares in the company, valued at C$840,792. This trade 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 shares were sold at an average price of C$70.49, for a total transaction of C$3,802,669.72. Following the completion of the sale, the director owned 113,550 shares of the company's stock, valued at approximately C$8,004,173.57. This represents a 32.21% decrease in their position. Company 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.

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