TC Energy Co. (TSE:TRP – Get Rating) (NYSE:TRP) – Equities research analysts at Raymond James boosted their FY2022 earnings estimates for TC Energy in a note issued to investors on Friday, January 6th. Raymond James analyst A. Bradford now anticipates that the company will post earnings of $4.30 per share for the year, up from their prior forecast of $4.28. Raymond James has a “Outperform” rating and a $63.00 price target on the stock. The consensus estimate for TC Energy’s current full-year earnings is $4.28 per share. Raymond James also issued estimates for TC Energy’s FY2023 earnings at $4.37 EPS and FY2024 earnings at $4.46 EPS.
TC Energy (TSE:TRP – Get Rating) (NYSE:TRP) last released its quarterly earnings results on Wednesday, November 9th. The company reported C$1.07 EPS for the quarter, beating the consensus estimate of C$1.03 by C$0.04. The business had revenue of C$3.80 billion during the quarter.
Several other equities analysts have also recently issued reports on the stock. Industrial Alliance Securities reissued a “hold” rating and issued a C$64.00 price objective on shares of TC Energy in a research note on Friday, December 2nd. CIBC cut shares of TC Energy from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from C$68.00 to C$65.00 in a research note on Wednesday, November 30th. National Bankshares boosted their price objective on shares of TC Energy from C$56.00 to C$58.00 in a research report on Thursday, November 10th. JPMorgan Chase & Co. decreased their price objective on shares of TC Energy from C$67.00 to C$64.00 in a research report on Tuesday, December 6th. Finally, TD Securities decreased their price objective on shares of TC Energy from C$76.00 to C$74.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$65.05.
TC Energy Stock Up 3.6 %
TRP stock opened at C$54.24 on Monday. The company has a debt-to-equity ratio of 164.17, a current ratio of 0.53 and a quick ratio of 0.40. The company has a market cap of C$54.24 billion and a price-to-earnings ratio of 16.69. The company has a fifty day moving average price of C$58.88 and a 200 day moving average price of C$61.76. TC Energy has a 12 month low of C$52.12 and a 12 month high of C$74.44.
TC Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date is Thursday, December 29th. TC Energy’s dividend payout ratio is currently 109.85%.
Insider Buying and Selling
In related news, Director Robert C. Jacobucci sold 1,750 shares of TC Energy stock in a transaction dated Thursday, November 24th. The stock was sold at an average price of C$65.06, for a total value of C$113,855.88. Following the transaction, the director now owns 3,285 shares of the company’s stock, valued at approximately C$213,723.74. In other news, Director Robert C. Jacobucci sold 1,750 shares of TC Energy stock in a transaction dated Thursday, November 24th. The stock was sold at an average price of C$65.06, for a total transaction of C$113,855.88. Following the completion of the sale, the director now directly owns 3,285 shares in the company, valued at approximately C$213,723.74. Also, Director Mark Yeomans sold 430 shares of TC Energy stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of C$58.43, for a total value of C$25,124.90. Following the sale, the director now owns 407 shares of the company’s stock, valued at C$23,781.01.
About TC Energy
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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