TC Energy (TSE:TRP) Price Target Raised to C$76.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price target hoisted by CIBC from C$71.00 to C$76.00 in a research report released on Friday,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other research analysts also recently issued reports on the company. Citigroup upgraded TC Energy to a “hold” rating in a research note on Friday, April 4th. Jefferies Financial Group lifted their target price on shares of TC Energy from C$65.00 to C$71.00 in a report on Thursday, January 30th. Royal Bank of Canada raised their price objective on shares of TC Energy from C$71.00 to C$74.00 in a research report on Tuesday, February 18th. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Finally, TD Securities boosted their price target on TC Energy from C$74.00 to C$76.00 and gave the company a “buy” rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, TC Energy has an average rating of “Moderate Buy” and a consensus target price of C$74.17.

TC Energy Price Performance

Shares of TSE:TRP opened at C$70.34 on Friday. The company has a debt-to-equity ratio of 237.62, a current ratio of 1.31 and a quick ratio of 0.40. TC Energy has a 12 month low of C$46.07 and a 12 month high of C$70.97. The firm has a market capitalization of C$72.54 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.69 and a beta of 0.82. The company’s fifty day moving average price is C$67.37 and its 200 day moving average price is C$67.00.

TC Energy Cuts Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 4.83%. TC Energy’s payout ratio is 76.37%.

Insider Activity at TC Energy

In related news, Director Danika Yeager acquired 1,817 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were acquired at an average price of C$69.23 per share, with a total value of C$125,784.97. Also, Senior Officer Patrick C. Muttart sold 18,629 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of C$70.10, for a total transaction of C$1,305,885.45. In the last 90 days, insiders have purchased 13,287 shares of company stock valued at $842,568 and have sold 145,977 shares valued at $9,810,511. 0.03% of the stock is 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.