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

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective boosted by CIBC from C$71.00 to C$76.00 in a research report sent to investors on Friday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages also recently weighed in on TRP. Scotiabank increased their price target on TC Energy from C$75.00 to C$77.00 and gave the stock an “outperform” rating in a report on Friday. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Citigroup upgraded TC Energy to a “hold” rating in a report on Friday, April 4th. Finally, Jefferies Financial Group lifted their price objective on shares of TC Energy from C$65.00 to C$71.00 in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$74.17.

TC Energy Trading Up 1.5 %

TSE:TRP opened at C$70.34 on Friday. TC Energy has a 52 week low of C$46.07 and a 52 week high of C$70.97. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. The firm’s fifty day moving average is C$67.37 and its 200-day moving average is C$67.00. The firm has a market cap 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.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders 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 dividend yield of 4.83%. TC Energy’s dividend payout ratio (DPR) is 76.37%.

Insider Activity

In other news, Director Trevor Ebl purchased 1,470 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average cost of C$67.85 per share, with a total value of C$99,732.15. Also, Director Francois Lionel Poirier purchased 4,800 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of C$65.05 per share, for a total transaction of C$312,239.52. Over the last three months, insiders acquired 13,287 shares of company stock worth $842,568 and sold 145,977 shares worth $9,810,511. Corporate insiders own 0.03% of the company’s stock.

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.