TC Energy (TSE:TRP) Given New C$51.00 Price Target at Jefferies Financial Group

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

A number of other equities research analysts also recently issued reports on the company. ATB Capital set a C$54.00 price target on TC Energy and gave the company a sector perform rating in a research report on Friday, January 5th. Barclays boosted their price target on TC Energy from C$53.00 to C$55.00 in a research report on Monday, January 29th. TD Securities boosted their price objective on TC Energy from C$50.00 to C$51.00 and gave the stock a hold rating in a research note on Wednesday, February 21st. Scotiabank boosted their price objective on TC Energy from C$55.00 to C$58.00 and gave the stock an outperform rating in a research note on Tuesday, February 20th. Finally, CIBC boosted their price objective on TC Energy from C$54.00 to C$55.00 and gave the stock a neutral rating in a research note 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.com, the stock currently has an average rating of Hold and an average target price of C$54.94.

TC Energy Price Performance

Shares of TSE:TRP opened at C$48.31 on Wednesday. The business has a fifty day simple moving average of C$53.06 and a 200-day simple moving average of C$51.43. TC Energy has a 52 week low of C$43.70 and a 52 week high of C$56.98. The company has a quick ratio of 0.40, a current ratio of 0.96 and a debt-to-equity ratio of 163.32. The company has a market cap of C$50.24 billion, a P/E ratio of 17.57, a P/E/G ratio of 0.26 and a beta of 0.73.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings results on Friday, February 16th. The company reported C$1.35 earnings per share (EPS) for the quarter, beating 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 firm had revenue of C$4.24 billion during the quarter, compared to the consensus estimate of C$3.94 billion. Equities research analysts forecast that TC Energy will post 4.1789916 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.96 dividend. 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. This represents a $3.84 annualized dividend and a dividend yield of 7.95%. TC Energy’s payout ratio is 139.64%.

Insider Buying and Selling

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima purchased 2,600 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average price of C$55.04 per share, for a total transaction of C$143,104.00. In other TC Energy news, Director Kevin B. Engel sold 2,514 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns -29 shares in the company, valued at C($1,575.66). Also, Senior Officer Dawn Elizabeth De Lima acquired 2,600 shares of the business’s stock in a transaction on Monday, March 25th. The shares were purchased at an average price of C$55.04 per share, for a total transaction of C$143,104.00. Over the last 90 days, insiders have acquired 4,526 shares of company stock worth $248,609. 0.04% of the stock is currently owned by corporate insiders.

TC Energy Company Profile

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.