TC Energy (TSE:TRP) Stock Price Down 9.2% on Analyst Downgrade

TC Energy Co. (TSE:TRP) (NYSE:TRP) shares traded down 9.2% during trading on Wednesday after ATB Capital lowered their price target on the stock from C$60.00 to C$58.00. ATB Capital currently has a sector perform rating on the stock. TC Energy traded as low as C$59.23 and last traded at C$59.25. 135,457 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 6,665,483 shares. The stock had previously closed at C$65.26.

A number of other equities analysts also recently weighed in on the company. National Bankshares reduced their price target on TC Energy from C$65.00 to C$60.00 and set an “outperform” rating for the company in a research report on Thursday. BMO Capital Markets reduced their target price on shares of TC Energy from C$65.00 to C$55.00 and set a “market perform” rating for the company in a report on Wednesday. CIBC decreased their target price on shares of TC Energy from C$62.00 to C$57.00 and set a “negative” rating for the company in a research report on Wednesday. Scotiabank cut their price target on shares of TC Energy from C$62.00 to C$61.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Finally, UBS Group upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$59.23.

Insider Activity

In related news, Director Richard Prior sold 18,068 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total transaction of C$1,138,284.00. In other news, Director Rosemary K. Stevens sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of C$59.88, for a total transaction of C$71,856.00. Following the completion of the sale, the director now owns 987 shares in the company, valued at C$59,101.56. Also, Director Richard Prior sold 18,068 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$63.00, for a total value of C$1,138,284.00. Insiders sold a total of 95,479 shares of company stock valued at $5,860,018 over the last three months. Insiders own 0.04% of the company’s stock.

TC Energy Stock Up 1.2 %

The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. The stock has a market cap of C$62.52 billion, a P/E ratio of 18.16, a PEG ratio of 0.26 and a beta of 0.82. The firm has a 50-day simple moving average of C$61.41 and a two-hundred day simple moving average of C$55.64.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, beating the consensus estimate of C$0.89 by C$0.05. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The business had revenue of C$4.09 billion for the quarter, compared to the consensus estimate of C$3.78 billion. Equities research analysts expect that TC Energy Co. will post 4.4244068 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.96 per share. The ex-dividend date is Friday, September 27th. This represents a $3.84 annualized dividend and a dividend yield of 6.39%. TC Energy’s dividend payout ratio is presently 116.01%.

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.