TC Energy (TSE:TRP) Price Target Cut to C$65.00 by Analysts at National Bankshares

TC Energy (TSE:TRPGet Rating) (NYSE:TRP) had its price target reduced by National Bankshares from C$66.00 to C$65.00 in a report released on Tuesday, BayStreet.CA reports. National Bankshares currently has a sector perform rating on the stock.

Several other analysts have also weighed in on TRP. JPMorgan Chase & Co. decreased their price objective on TC Energy from C$74.00 to C$73.00 in a report on Wednesday, May 25th. Raymond James decreased their price target on TC Energy from C$68.00 to C$67.00 and set a market perform rating on the stock in a research note on Friday, July 29th. CIBC lowered TC Energy from an outperform rating to a neutral rating and decreased their price target for the company from C$76.00 to C$74.00 in a research note on Friday, July 29th. Scotiabank decreased their price target on TC Energy from C$78.00 to C$76.00 in a research note on Friday, July 29th. Finally, Wells Fargo & Company decreased their price target on TC Energy from C$74.00 to C$73.00 and set a market perform rating on the stock in a research note on Friday, May 20th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of C$69.95.

TC Energy Price Performance

Shares of TSE:TRP opened at C$65.98 on Tuesday. TC Energy has a 1-year low of C$57.71 and a 1-year high of C$74.44. The firm has a market capitalization of C$64.92 billion and a PE ratio of 19.81. The business’s 50 day moving average is C$69.12 and its 200-day moving average is C$69.22. The company has a current ratio of 0.61, a quick ratio of 0.36 and a debt-to-equity ratio of 163.99.

TC Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.46%. TC Energy’s payout ratio is currently 106.31%.

Insider Transactions at TC Energy

In other news, Director Richard Prior bought 500 shares of the company’s stock in a transaction dated Thursday, June 16th. The stock was bought at an average price of C$66.49 per share, for a total transaction of C$33,245.00. Following the completion of the transaction, the director now directly owns 11,875 shares in the company, valued at approximately C$789,568.75. In related news, Director Richard Prior acquired 500 shares of the company’s stock in a transaction that occurred on Thursday, June 16th. The stock was acquired at an average price of C$66.49 per share, for a total transaction of C$33,245.00. Following the completion of the acquisition, the director now owns 11,875 shares of the company’s stock, valued at approximately C$789,568.75. Also, Senior Officer G. Glenn Menuz sold 16,241 shares of the company’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of C$74.00, for a total value of C$1,201,834.00. Over the last 90 days, insiders bought 1,546 shares of company stock worth $108,043 and sold 57,480 shares worth $4,231,619.

About TC Energy

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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 Storage. The company builds and operates 93,300 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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Analyst Recommendations for TC Energy (TSE:TRP)

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