TC Energy (TSE:TRP) Price Target Lowered to C$78.00 at Royal Bank of Canada

TC Energy (TSE:TRPGet Rating) (NYSE:TRP) had its price objective trimmed by Royal Bank of Canada from C$79.00 to C$78.00 in a research report released on Tuesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other research firms have also commented on TRP. Raymond James lowered their price objective on shares of TC Energy from C$68.00 to C$67.00 and set a market perform rating for the company in a research report on Friday, July 29th. JPMorgan Chase & Co. reduced their price target on shares of TC Energy from C$74.00 to C$73.00 in a report on Wednesday, May 25th. Bank of America reduced their price objective on shares of TC Energy from C$71.00 to C$67.00 and set a neutral rating for the company in a research note on Wednesday, July 20th. Morgan Stanley lowered shares of TC Energy to a sell rating and set a C$78.00 price objective for the company. in a research note on Tuesday, April 26th. Finally, US Capital Advisors restated a hold rating on shares of TC Energy in a research note on Wednesday, June 1st. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of C$69.95.

TC Energy Trading Down 3.4 %

Shares of TSE TRP opened at C$65.98 on Tuesday. The firm’s 50 day moving average price is C$69.12 and its 200-day moving average price is C$69.22. The company has a market cap of C$64.92 billion and a PE ratio of 19.81. TC Energy has a 52-week low of C$57.71 and a 52-week high of C$74.44. The company has a debt-to-equity ratio of 163.99, a quick ratio of 0.36 and a current ratio of 0.61.

TC Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued 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 yield of 5.46%. TC Energy’s payout ratio is currently 106.31%.

Insiders Place Their Bets

In other TC Energy news, Senior Officer G. Glenn Menuz sold 16,241 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of C$74.00, for a total transaction of C$1,201,834.00. In other news, Senior Officer Christine R. Johnston sold 793 shares of TC Energy stock in a transaction on Friday, May 6th. The shares were sold at an average price of C$71.10, for a total value of C$56,382.30. Also, Senior Officer G. Glenn Menuz sold 16,241 shares of TC Energy stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of C$74.00, for a total transaction of C$1,201,834.00. Over the last quarter, insiders have purchased 1,546 shares of company stock valued at $108,043 and have sold 57,480 shares valued at $4,231,619.

TC Energy Company Profile

(Get Rating)

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.

See Also

Analyst Recommendations for TC Energy (TSE:TRP)

Want More Great Investing Ideas?

Receive News & Ratings for TC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TC Energy and related companies with MarketBeat.com's FREE daily email newsletter.