Insider Buying: TC Energy Co. (TSE:TRP) Director Buys C$431,947.64 in Stock

TC Energy Co. (TSE:TRP) (NYSE:TRP) Director Alexander (Alex) Oehler bought 6,540 shares of TC Energy stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of C$66.05 per share, for a total transaction of C$431,947.64.

TC Energy Stock Performance

Shares of TC Energy stock opened at C$66.99 on Thursday. TC Energy Co. has a 1 year low of C$43.83 and a 1 year high of C$70.32. The firm’s 50-day moving average is C$67.10 and its 200 day moving average is C$61.67. The stock has a market cap of C$69.67 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 160.84, a current ratio of 0.76 and a quick ratio of 0.40.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.97 by C$0.06. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The firm had revenue of C$4.08 billion for the quarter, compared to the consensus estimate of C$3.90 billion. Sell-side analysts anticipate that TC Energy Co. will post 3.5490515 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $1.113 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $4.45 annualized dividend and a dividend yield of 6.65%. This is a boost from TC Energy’s previous quarterly dividend of $0.96. TC Energy’s payout ratio is currently 116.01%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TRP shares. Jefferies Financial Group lifted their price target on shares of TC Energy from C$64.00 to C$65.00 in a report on Wednesday, November 20th. CIBC lifted their target price on shares of TC Energy from C$67.00 to C$68.00 in a research note on Wednesday, November 20th. BMO Capital Markets increased their price target on shares of TC Energy from C$70.00 to C$73.00 in a research note on Friday, November 29th. Raymond James upgraded TC Energy to a “hold” rating in a report on Thursday, November 21st. Finally, National Bankshares raised their target price on TC Energy from C$70.00 to C$71.00 in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$69.77.

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 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.