Shares of TC Energy Co. (TSE:TRP – Get Free Report) (NYSE:TRP) have been given an average recommendation of “Moderate Buy” by the sixteen brokerages that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is C$74.17.
Several research analysts have weighed in on TRP shares. TD Securities boosted their price target on TC Energy from C$74.00 to C$76.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Cibc World Mkts raised TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 2nd. CIBC boosted their price target on TC Energy from C$71.00 to C$76.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Citigroup upgraded TC Energy to a “hold” rating in a research note on Friday, April 4th. Finally, Scotiabank lifted their target price on TC Energy from C$75.00 to C$77.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd.
Read Our Latest Stock Report on TC Energy
TC Energy Stock Down 1.0%
TC Energy Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 5.25%. TC Energy’s dividend payout ratio (DPR) is presently 76.37%.
Insiders Place Their Bets
In related news, Director Troy Tally sold 2,477 shares of the business’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of C$69.19, for a total value of C$171,395.07. Also, Director Russell Mahan sold 11,424 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of C$70.22, for a total value of C$802,193.28. Insiders sold a total of 45,070 shares of company stock worth $3,141,916 over the last three months. 0.03% of the stock is currently owned by corporate insiders.
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.
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