ATB Capital Lowers TC Energy (TSE:TRP) Price Target to C$58.00

TC Energy (TSE:TRP) (NYSE:TRP) had its target price lowered by ATB Capital from C$60.00 to C$58.00 in a report issued on Thursday morning, BayStreet.CA reports. ATB Capital currently has a sector perform rating on the stock.

A number of other analysts also recently issued reports on the stock. CIBC cut their price target on shares of TC Energy from C$62.00 to C$57.00 and set a negative rating for the company in a report on Wednesday. Jefferies Financial Group lifted their target price on 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. National Bankshares lowered their price target on TC Energy from C$65.00 to C$60.00 and set an outperform rating for the company in a report on Thursday. Barclays boosted their price objective on shares of TC Energy from C$61.00 to C$64.00 in a report on Monday, August 19th. Finally, UBS Group raised shares of TC Energy from a hold rating to a strong-buy rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of C$59.23.

TC Energy Stock Performance

The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40. The stock’s fifty day moving average is C$61.41 and its two-hundred day moving average is C$55.64. The firm has a market capitalization of C$63.67 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 0.26 and a beta of 0.82. TC Energy has a 12 month low of C$44.70 and a 12 month high of C$65.39.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share 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 firm had revenue of C$4.09 billion for the quarter, compared to analysts’ expectations of C$3.78 billion. As a group, sell-side analysts forecast that TC Energy will post 4.4244068 EPS for the current year.

TC Energy Announces Dividend

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

Insider Buying and Selling at TC Energy

In other news, Director Colin Lindley sold 2,773 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total value of C$164,761.40. Following the sale, the director now directly owns 697 shares in the company, valued at approximately C$41,413.16. This trade represents a 0.00 % decrease in their ownership of the stock. In other news, Director Colin Lindley sold 2,773 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the completion of the transaction, the director now directly owns 697 shares of the company’s stock, valued at approximately C$41,413.16. The trade was a 0.00 % decrease in their ownership of the stock. Also, Director Richard Prior sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of C$44.00, for a total transaction of C$132,000.00. Insiders sold 95,479 shares of company stock valued at $5,860,018 in the last 90 days. Company 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.