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

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

A number of other brokerages also recently issued reports on TRP. National Bankshares raised their target price on TC Energy from C$54.00 to C$58.00 and gave the stock an outperform rating in a research note on Tuesday, January 30th. ATB Capital set a C$54.00 price target on TC Energy and gave the stock a sector perform rating in a report on Friday, January 5th. Stifel Nicolaus set a C$61.00 price target on TC Energy and gave the stock a buy rating in a report on Thursday, January 18th. Scotiabank increased their price target 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. Finally, CIBC increased their price target 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. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, TC Energy has a consensus rating of Hold and an average price target of C$54.94.

TC Energy Stock Up 1.1 %

Shares of TRP opened at C$49.05 on Wednesday. TC Energy has a 52-week low of C$43.70 and a 52-week high of C$56.98. The company has a market capitalization 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. The stock has a fifty day simple moving average of C$53.00 and a two-hundred day simple moving average 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.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its earnings results on Friday, February 16th. The company reported C$1.35 earnings per share (EPS) for the quarter, topping 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 business had revenue of C$4.24 billion during the quarter, compared to the consensus estimate of C$3.94 billion. As a group, equities analysts forecast that TC Energy will post 4.1789916 EPS for the current year.

TC Energy Increases Dividend

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

Insider Activity at TC Energy

In related news, Director Kevin B. Engel sold 2,514 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns -29 shares in the company, valued at approximately C($1,575.66). In other TC Energy news, Director Kevin B. Engel sold 2,514 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of C$54.33, for a total value 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, Senior Officer Dawn Elizabeth De Lima purchased 2,600 shares of TC Energy stock in a transaction on Monday, March 25th. The stock was bought at an average cost of C$55.04 per share, for a total transaction of C$143,104.00. Insiders bought 4,526 shares of company stock worth $248,609 in the last three months. 0.04% of the stock is owned by company 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.