TC Energy (TSE:TRP) Upgraded to Overweight by Morgan Joseph

Morgan Joseph upgraded shares of TC Energy (TSE:TRP) (NYSE:TRP) from an underweight rating to an overweight rating in a report issued on Friday, BayStreet.CA reports. The firm currently has C$78.00 price objective on the stock, up from their previous price objective of C$62.00.

TRP has been the subject of a number of other research reports. BMO Capital Markets cut their price target on shares of TC Energy from C$65.00 to C$55.00 and set a “market perform” rating for the company in a report on Wednesday, October 2nd. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. ATB Capital decreased their price target on shares of TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating for the company in a research report on Thursday, October 3rd. CIBC decreased their price target on shares of TC Energy from C$62.00 to C$57.00 and set a “negative” rating for the company in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada upped their price target on shares of TC Energy from C$66.00 to C$67.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$61.92.

TC Energy Stock Performance

TSE TRP opened at C$65.68 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. The company has a market capitalization of C$68.31 billion, a P/E ratio of 19.84, a P/E/G ratio of 1.69 and a beta of 0.82. TC Energy has a 12-month low of C$42.45 and a 12-month high of C$66.70. The firm has a 50-day moving average price of C$62.62 and a two-hundred day moving average price of C$56.49.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.89 by C$0.05. The firm had revenue of C$4.09 billion during the quarter, compared to the consensus estimate of C$3.78 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. Analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current year.

TC Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is 116.01%.

Insiders Place Their Bets

In other TC Energy news, Director Rosemary K. Stevens sold 1,200 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of C$59.88, for a total value of C$71,856.00. Following the transaction, the director now directly owns 987 shares of the company’s stock, valued at approximately C$59,101.56. This trade represents a 0.00 % decrease in their ownership of the stock. In related news, Director Jawad Masud sold 6,041 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of C$63.50, for a total transaction of C$383,603.50. Also, Director Rosemary K. Stevens sold 1,200 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of C$59.88, for a total transaction of C$71,856.00. Following the transaction, the director now directly owns 987 shares in the company, valued at C$59,101.56. The trade was a 0.00 % decrease in their ownership of the stock. Over the last ninety days, insiders sold 95,479 shares of company stock worth $5,860,018. 0.03% of the stock is currently owned by company insiders.

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.