ATB Capital Boosts TC Energy (TSE:TRP) Price Target to C$56.00

TC Energy (TSE:TRP) (NYSE:TRP) had its target price upped by ATB Capital from C$54.00 to C$56.00 in a research report report published on Wednesday morning, BayStreet.CA reports.

A number of other equities research analysts have also weighed in on the stock. Barclays raised shares of TC Energy from an equal weight rating to an overweight rating and boosted their target price for the stock from C$55.00 to C$61.00 in a report on Wednesday, July 17th. CIBC increased their price objective on TC Energy from C$56.00 to C$59.00 in a report on Monday, July 15th. Jefferies Financial Group lifted their target price on TC Energy from C$51.00 to C$52.00 and gave the stock a hold rating in a report on Monday, May 6th. JPMorgan Chase & Co. upped their price target on TC Energy from C$58.00 to C$59.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company raised their price objective on TC Energy from C$59.00 to C$64.00 in a research report on Tuesday, June 4th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of C$55.87.

TC Energy Stock Up 1.2 %

Shares of TRP opened at C$58.04 on Wednesday. The stock has a market capitalization of C$60.36 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 0.26 and a beta of 0.74. TC Energy has a 52 week low of C$43.70 and a 52 week high of C$58.05. The company has a debt-to-equity ratio of 163.01, a quick ratio of 0.40 and a current ratio of 0.94. The stock has a fifty day moving average of C$53.39 and a 200-day moving average of C$52.75.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results on Friday, May 3rd. The company reported C$1.24 EPS for the quarter, beating the consensus estimate of C$1.14 by C$0.10. The firm had revenue of C$4.24 billion during the quarter, compared to the consensus estimate of C$4.26 billion. TC Energy had a return on equity of 8.37% and a net margin of 17.31%. As a group, sell-side analysts anticipate that TC Energy will post 4.1883013 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date is Friday, June 28th. TC Energy’s payout ratio is 147.69%.

Insider Activity

In related news, Director Richard Prior sold 5,000 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of C$40.00, for a total transaction of C$200,000.00. In other news, Director Richard Prior sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of C$40.00, for a total value of C$200,000.00. Also, Director Kevin B. Engel sold 546 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of C$53.53, for a total value of C$29,227.38. Insiders sold 6,876 shares of company stock worth $299,917 in the last quarter. 0.04% of the stock is owned by corporate 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.