National Bankshares Raises TC Energy (TSE:TRP) Price Target to C$76.00

Key Points

• National Bankshares has raised TC Energy's price target from C$75.00 to C$76.00, indicating a potential upside of 13.93% from the previous close.
• Other analysts have also made changes to TC Energy's ratings, with CIBC upgrading it to "outperform" and Scotiabank raising their target price to C$77.00.
• TC Energy shares have experienced recent trading activity, with a slight increase, and insiders have been actively buying and selling stock, indicating ongoing interest in the company.

TC Energy (TSE:TRP - Free Report) NYSE: TRP had its price objective upped by National Bankshares from C$75.00 to C$76.00 in a report published on Friday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Scotiabank upped their target price on shares of TC Energy from C$75.00 to C$77.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. Jefferies Financial Group cut their target price on shares of TC Energy from C$71.00 to C$68.00 in a research note on Wednesday, July 23rd. CIBC upped their target price on shares of TC Energy from C$71.00 to C$76.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, TD Securities upped their target price on shares of TC Energy from C$74.00 to C$76.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of C$74.33.

TC Energy Stock Up 0.9%

TRP traded up C$0.60 during trading hours on Friday, hitting C$66.76. 2,240,896 shares of the company's stock were exchanged, compared to its average volume of 6,456,817. TC Energy has a 12-month low of C$52.84 and a 12-month high of C$71.12. The firm has a 50 day moving average of C$66.48 and a 200 day moving average of C$67.03. The firm has a market cap of C$68.84 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 5.1%. TC Energy's payout ratio is 76.37%.

Insiders Place Their Bets

In related news, Senior Officer Anita Elizabeth Dusevic Oliva bought 14,000 shares of the stock in a transaction dated Thursday, May 15th. The stock was acquired 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 company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of C$70.00, for a total transaction of C$561,400.00. In the last 90 days, insiders have sold 28,080 shares of company stock worth $1,963,367. 0.03% of the stock is currently owned by company insiders.

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.