TC Energy Co. (TRP.TO) (TSE:TRP) Hits New 12-Month Low After Analyst Downgrade

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TC Energy Co. (TRP.TO) (TSE:TRP) (NYSE:TRP) hit a new 52-week low during trading on Wednesday after CIBC lowered their price target on the stock from C$73.00 to C$71.00. The stock traded as low as C$0.05 and last traded at C$0.05, with a volume of 2988601 shares trading hands. The stock had previously closed at C$53.94.

Several other research firms also recently commented on TRP. Tudor Pickering & Holt downgraded TC Energy Co. (TRP.TO) from a “buy” rating to a “hold” rating and cut their price objective for the company from C$70.00 to C$63.00 in a report on Friday, January 8th. Bank of America cut shares of TC Energy Co. (TRP.TO) from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 6th. Tudor Pickering downgraded shares of TC Energy Co. (TRP.TO) from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$70.00 to C$63.00 in a research report on Friday, January 8th. CSFB set a C$65.00 target price on shares of TC Energy Co. (TRP.TO) and gave the company a “neutral” rating in a report on Wednesday, November 18th. Finally, Royal Bank of Canada reduced their price target on TC Energy Co. (TRP.TO) from C$81.00 to C$72.00 and set an “outperform” rating for the company in a report on Friday, October 30th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of C$68.89.

In other TC Energy Co. (TRP.TO) news, Senior Officer Andrea E. Jalbert sold 9,191 shares of the stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of C$55.77, for a total transaction of C$512,626.19. Following the completion of the sale, the insider now directly owns 1,200 shares in the company, valued at approximately C$66,929.76. Also, Senior Officer Donald R. Marchand purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, December 15th. The shares were acquired at an average price of C$56.55 per share, with a total value of C$56,549.50. Following the completion of the acquisition, the insider now owns 2,626 shares in the company, valued at approximately C$148,498.99. Insiders have acquired a total of 3,653 shares of company stock valued at $194,600 in the last three months.

The firm has a market cap of C$51.61 billion and a price-to-earnings ratio of 11.61. The firm has a 50 day moving average of C$55.39 and a 200 day moving average of C$57.87. The company has a quick ratio of 0.38, a current ratio of 0.51 and a debt-to-equity ratio of 144.88.

TC Energy Co. (TRP.TO) (TSE:TRP) (NYSE:TRP) last issued its earnings results on Thursday, October 29th. The company reported C$0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.92 by C$0.03. The company had revenue of C$3.20 billion for the quarter, compared to the consensus estimate of C$3.08 billion. Equities analysts expect that TC Energy Co. will post 4.1799998 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Thursday, December 31st will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 5.90%. The ex-dividend date of this dividend is Wednesday, December 30th. TC Energy Co. (TRP.TO)’s dividend payout ratio (DPR) is presently 67.24%.

TC Energy Co. (TRP.TO) Company Profile (TSE:TRP)

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Storage segments. The company builds and operates 92,600 km network 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.

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