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

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP has been assigned an average rating of "Moderate Buy" from the sixteen ratings firms that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, seven 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 a report on the stock in the last year is C$74.17.

A number of equities analysts have weighed in on TRP shares. CIBC raised their target price on shares of 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. Citigroup raised TC Energy to a "hold" rating in a research report on Friday, April 4th. TD Securities boosted their target price 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. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. Finally, Scotiabank lifted their price target on TC Energy from C$75.00 to C$77.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd.

Insiders Place Their Bets

In other news, Senior Officer Anita Elizabeth Dusevic Oliva acquired 14,000 shares of TC Energy stock in a transaction that occurred on Thursday, May 15th. The stock was bought at an average price of C$68.92 per share, for a total transaction of C$964,880.00. Also, Director Susanne Beaton sold 8,020 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of C$70.00, for a total value of C$561,400.00. Insiders have sold a total of 45,070 shares of company stock worth $3,141,916 in the last 90 days. Insiders own 0.03% of the company's stock.

TC Energy Stock Up 0.6%

Shares of TC Energy stock traded up C$0.37 during trading on Thursday, hitting C$65.56. The company's stock had a trading volume of 5,650,445 shares, compared to its average volume of 6,412,302. TC Energy has a 52 week low of C$46.07 and a 52 week high of C$71.12. The company has a market capitalization of C$67.61 billion, a PE ratio of 13.04, a P/E/G ratio of 1.69 and a beta of 0.82. The company has a fifty day simple moving average of C$68.21 and a two-hundred day simple moving average of C$67.28. 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 Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 5.19%. TC Energy's dividend payout ratio is currently 76.37%.

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.