ATB Capital Forecasts Strong Price Appreciation for TC Energy (TSE:TRP) Stock

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective hoisted by ATB Capital from C$64.00 to C$65.00 in a report issued on Friday morning,BayStreet.CA reports.

A number of other equities research analysts have also weighed in on TRP. Scotiabank boosted their price objective on shares of TC Energy from C$68.00 to C$74.00 in a report on Friday. UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. Royal Bank of Canada boosted their price objective on shares of TC Energy from C$67.00 to C$71.00 in a report on Friday. Jefferies Financial Group boosted their target price on shares of TC Energy from C$57.00 to C$66.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, National Bankshares boosted their target price on shares of TC Energy from C$60.00 to C$70.00 in a research report on Friday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$66.15.

TC Energy Stock Down 1.5 %

TSE TRP traded down C$1.01 on Friday, hitting C$67.82. The stock had a trading volume of 3,536,000 shares, compared to its average volume of 7,012,491. The business’s fifty day moving average price is C$63.74 and its 200 day moving average price is C$57.67. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. TC Energy has a 52-week low of C$43.83 and a 52-week high of C$69.61. The stock has a market cap of C$70.53 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.06. The firm had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. Equities research analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $1.113 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $4.45 dividend on an annualized basis and a dividend yield of 6.56%. This is an increase from TC Energy’s previous quarterly dividend of $0.96. TC Energy’s dividend payout ratio is 116.01%.

Insiders Place Their Bets

In related news, Director Richard Prior sold 3,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of C$44.00, for a total transaction of C$132,000.00. In related news, Director Richard Prior sold 3,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of C$44.00, for a total transaction of C$132,000.00. Also, Senior Officer Patrick M. Keys sold 17,127 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of C$62.71, for a total transaction of C$1,074,049.58. Over the last quarter, insiders sold 76,114 shares of company stock worth $4,704,641. Company insiders own 0.03% of the company’s stock.

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.