TC Energy (TSE:TRP) PT Lowered to C$51.00 at Jefferies Financial Group

TC Energy (TSE:TRP) (NYSE:TRP) had its target price decreased by Jefferies Financial Group from C$57.00 to C$51.00 in a report released on Wednesday, BayStreet.CA reports.

A number of other research analysts also recently commented on the company. CIBC increased their target price on TC Energy from C$54.00 to C$55.00 and gave the stock a neutral rating in a report on Monday, January 8th. Scotiabank increased their target price on TC Energy from C$55.00 to C$58.00 and gave the stock an outperform rating in a report on Tuesday, February 20th. Stifel Nicolaus set a C$61.00 target price on TC Energy and gave the stock a buy rating in a report on Thursday, January 18th. ATB Capital set a C$54.00 target price on TC Energy and gave the stock a sector perform rating in a report on Friday, January 5th. Finally, TD Securities increased their target price on TC Energy from C$50.00 to C$51.00 and gave the stock a hold rating in a report on Wednesday, February 21st. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of C$54.94.

TC Energy Price Performance

Shares of TSE TRP opened at C$49.05 on Wednesday. TC Energy has a fifty-two week low of C$43.70 and a fifty-two week high of C$56.98. The business has a 50 day moving average price of C$53.00 and a two-hundred day moving average price of C$51.44. The company has a quick ratio of 0.40, a current ratio of 0.96 and a debt-to-equity ratio of 163.32. The firm has a market cap of C$51.01 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 0.26 and a beta of 0.73.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data on Friday, February 16th. The company reported C$1.35 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.08 by C$0.27. TC Energy had a return on equity of 8.39% and a net margin of 18.34%. The firm had revenue of C$4.24 billion during the quarter, compared to analyst estimates of C$3.94 billion. Sell-side analysts expect that TC Energy will post 4.1789916 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.84 annualized dividend and a yield of 7.83%. This is an increase from TC Energy’s previous quarterly dividend of $0.93. TC Energy’s payout ratio is presently 139.64%.

Insider Buying and Selling at TC Energy

In other TC Energy news, Director Kevin B. Engel sold 2,514 shares of TC Energy stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$54.33, for a total transaction of C$136,593.16. Following the sale, the director now owns -29 shares of the company’s stock, valued at approximately C($1,575.66). In other TC Energy news, Director Kevin B. Engel sold 2,514 shares of TC Energy stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$54.33, for a total transaction of C$136,593.16. Following the sale, the director now owns -29 shares of the company’s stock, valued at approximately C($1,575.66). Also, Director Alexis A.J. Hudy bought 875 shares of the business’s stock in a transaction on Monday, March 25th. The shares were acquired at an average cost of C$54.97 per share, for a total transaction of C$48,098.75. Following the purchase, the director now directly owns 875 shares in the company, valued at C$48,098.75. Insiders have acquired 4,526 shares of company stock valued at $248,609 in the last quarter. Corporate insiders own 0.04% of the company’s stock.

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.