TC Energy (TSE:TRP) Stock Rating Upgraded by Morgan Joseph

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

TRP has been the subject of a number of other reports. JPMorgan Chase & Co. dropped their target price on shares of TC Energy from C$66.00 to C$60.00 and set a “neutral” rating for the company in a research note on Tuesday, October 8th. BMO Capital Markets lowered 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. ATB Capital dropped their price objective on TC Energy from C$60.00 to C$58.00 and set a “sector perform” rating for the company in a report on Thursday, October 3rd. Jefferies Financial Group raised their target price on shares of TC Energy from C$57.00 to C$66.00 and gave the company a “hold” rating in a research note on Monday, September 30th. Finally, CIBC dropped 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 note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of C$61.92.

TC Energy Stock Up 0.9 %

TSE TRP opened at C$65.68 on Friday. The stock’s 50 day simple moving average is C$62.74 and its 200 day simple moving average is C$56.61. 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 has a one year low of C$42.45 and a one year high of C$66.70. The firm has a market cap of C$68.31 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, topping the consensus estimate 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 company 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 5.85%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is presently 116.01%.

Insiders Place Their Bets

In other TC Energy news, Director Jawad Masud sold 6,041 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$63.50, for a total value of C$383,603.50. In related news, Director Colin Lindley sold 2,773 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of C$59.42, for a total value of C$164,761.40. Following the sale, the director now directly owns 697 shares of the company’s stock, valued at approximately C$41,413.16. The trade was a 0.00 % decrease in their position. Also, Director Jawad Masud sold 6,041 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of C$63.50, for a total transaction of C$383,603.50. Over the last ninety days, insiders have sold 95,479 shares of company stock worth $5,860,018. Corporate 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.