Insider Selling: TC Energy (TSE:TRP) Director Sells 53,946 Shares of 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 the company's stock in a transaction dated 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 completion of the transaction, the director owned 113,550 shares in the company, valued at C$8,004,173.57. This represents a 32.21% decrease in their ownership of the stock.

TC Energy Trading Up 0.5%

TRP stock traded up C$0.39 during mid-day trading on Friday, reaching C$72.45. The company had a trading volume of 1,224,732 shares, compared to its average volume of 5,962,304. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40. The company has a market capitalization of C$75.32 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 1.69 and a beta of 0.92. The firm has a 50 day moving average of C$68.40 and a 200 day moving average of C$67.92. TC Energy Co. has a 12 month low of C$55.30 and a 12 month high of C$72.69.

TC Energy Announces Dividend

The business also recently announced 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 4.7%. TC Energy's dividend payout ratio is currently 85.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TRP. Citigroup set a C$75.00 target price on shares of TC Energy and gave the stock a "neutral" rating in a research note on Friday, September 5th. Jefferies Financial Group lowered their price target on shares of TC Energy from C$71.00 to C$68.00 in a research report on Wednesday, July 23rd. Barclays increased their target price on shares of TC Energy from C$74.00 to C$75.00 in a research report on Thursday, August 14th. National Bankshares increased their price objective 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. Finally, US Capital Advisors lowered shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of C$74.46.

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.