TC Energy (TSE:TRP) Director Sells C$3,802,669.72 in Stock

Key Points

• TC Energy Director Francois Lionel Poirier sold 53,946 shares for approximately C$3.8 million, resulting in a 32.21% decrease in his ownership.
• The company's stock recently increased by 0.6%, reaching a price of C$72.10, with a market capitalization of C$74.96 billion.
• TC Energy announced a quarterly dividend of $0.85 per share, representing an annualized dividend yield of 4.7%.

TC Energy Co. (TSE:TRP - Get Free Report) NYSE: TRP Director Francois Lionel Poirier sold 53,946 shares of TC Energy 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 completion of the sale, the director owned 113,550 shares in the company, valued at approximately C$8,004,173.57. This represents a 32.21% decrease in their ownership of the stock.

TC Energy Stock Up 0.6%

Shares of TRP traded up C$0.45 on Tuesday, reaching C$72.10. The stock had a trading volume of 602,191 shares, compared to its average volume of 5,977,246. The firm has a market capitalization of C$74.96 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. The company has a 50-day simple moving average of C$67.89 and a 200-day simple moving average of C$67.71. TC Energy Co. has a 12-month low of C$55.30 and a 12-month high of C$72.35.

TC Energy Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Citigroup set a C$75.00 price target on TC Energy and gave the stock a "neutral" rating in a research note on Friday. National Bankshares boosted their price target 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. Barclays upped their price objective on TC Energy from C$74.00 to C$75.00 in a research note on Thursday, August 14th. Jefferies Financial Group dropped their price target on TC Energy from C$71.00 to C$68.00 in a research note on Wednesday, July 23rd. Finally, US Capital Advisors lowered TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$74.46.

About TC Energy

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.

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