TC Energy (TSE:TRP) Raised to Overweight at Morgan Joseph

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

Other equities research analysts have also issued reports about the company. Scotiabank decreased their price objective on TC Energy from C$62.00 to C$61.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Barclays boosted their price objective on shares of TC Energy from C$66.00 to C$67.00 in a research report on Monday, October 21st. ATB Capital dropped their price objective on shares of TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 3rd. National Bankshares decreased their target price on shares of TC Energy from C$65.00 to C$60.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Finally, CIBC dropped their price target on shares of TC Energy from C$62.00 to C$57.00 and set a “negative” rating on the stock in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and a consensus target price of C$61.92.

TC Energy Stock Performance

Shares of TSE TRP opened at C$65.68 on Friday. TC Energy has a 52-week low of C$42.45 and a 52-week high of C$66.70. The stock has a market capitalization of C$68.31 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 1.69 and a beta of 0.82. 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 stock’s fifty day simple moving average is C$62.74 and its 200 day simple moving average is C$56.61.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.89 by C$0.05. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. The firm had revenue of C$4.09 billion for the quarter, compared to analysts’ expectations of C$3.78 billion. As a group, sell-side analysts forecast that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a dividend of $0.96 per share. 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 dividend payout ratio is 116.01%.

Insider Buying and Selling at TC Energy

In other news, Director Rosemary K. Stevens sold 1,200 shares of TC Energy stock in a transaction dated Monday, August 12th. The stock was 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 in the company, valued at approximately C$59,101.56. The trade was a 0.00 % decrease in their ownership of the stock. In other news, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average cost of C$63.06 per share, for a total transaction of C$34,367.70. Also, Director Rosemary K. Stevens sold 1,200 shares of the company’s stock in a transaction that occurred 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 completion of 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 position. Insiders sold 95,479 shares of company stock worth $5,860,018 over the last ninety days. Company insiders own 0.03% of the company’s stock.

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.