Fri Oct 04 06:30:48 UTC 2024: ## TC Energy (TRP) Receives “Moderate Buy” Rating from Analysts: Stock Price Fluctuates Amid Mixed Reports

**Calgary, AB, October 4, 2024** – TC Energy Corporation (TSE:TRP, NYSE:TRP) has received a “Moderate Buy” rating from analysts covering the stock, according to MarketBeat Ratings. This consensus is based on the combined opinions of twelve analysts, with one issuing a sell recommendation, five suggesting a hold, five recommending a buy, and one assigning a strong buy.

The average 12-month target price among analysts is C$59.23, indicating potential upside for the stock. However, recent research reports have shown conflicting perspectives on the company’s future prospects.

UBS Group upgraded TC Energy from a “hold” to a “strong-buy” rating, while National Bankshares reduced its price target to C$60.00 from C$65.00, maintaining an “outperform” rating. BMO Capital Markets lowered its target price to C$55.00 and assigned a “market perform” rating. Scotiabank also cut its price target, albeit slightly, to C$61.00 while keeping an “outperform” rating. Barclays, on the other hand, raised its price objective to C$64.00 from C$61.00.

TC Energy reported strong second-quarter earnings, exceeding analyst expectations with C$0.94 earnings per share, compared to the anticipated C$0.89. Revenue also surpassed estimates, reaching C$4.09 billion against an expected C$3.78 billion. Analysts predict a 4.4244068 EPS for the current year.

The company declared a quarterly dividend of $0.96, payable on October 31st to shareholders of record on September 27th. This translates to an annualized dividend of $3.84, yielding 6.39%.

Insider trading activity has been notable in recent months. Director Colin Lindley sold 2,773 shares on August 6th for a total value of C$164,761.40, leaving him with 697 shares. Additionally, Senior Officer Christine R. Johnston sold 16,292 shares on August 7th for a total value of C$972,795.32, reducing her holdings to 466 shares. In total, insiders have sold 95,479 shares worth $5,860,018 over the last three months.

TC Energy Corporation is a leading energy infrastructure company in North America, operating a network of natural gas pipelines, power generation facilities, and other energy solutions. The company’s future performance remains subject to scrutiny, as analysts grapple with various factors influencing its stock price.

Read More