TC Energy (TSE:TRP) Upgraded at Raymond James

Raymond James upgraded shares of TC Energy (TSE:TRP) (NYSE:TRP) to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Morgan Joseph raised shares of TC Energy from an “underweight” rating to an “overweight” rating and increased their price target for the stock from C$62.00 to C$78.00 in a research note on Friday, October 25th. ATB Capital upped their price target on TC Energy from C$64.00 to C$65.00 in a research note on Friday, November 8th. Barclays raised their price objective on TC Energy from C$67.00 to C$74.00 in a research report on Wednesday. Scotiabank upped their target price on shares of TC Energy from C$74.00 to C$75.00 in a research report on Wednesday. Finally, Wells Fargo & Company lifted their price target on shares of TC Energy from C$74.00 to C$76.00 in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of C$69.54.

TC Energy Stock Performance

TSE:TRP opened at C$69.65 on Thursday. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. TC Energy has a fifty-two week low of C$43.83 and a fifty-two week high of C$70.32. The firm has a market cap of C$72.44 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. The business has a 50 day moving average price of C$65.01 and a 200-day moving average price of C$59.09.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.06. The firm had revenue of C$4.08 billion for the quarter, compared to analysts’ expectations of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. Equities research analysts predict that TC Energy will post 3.5490515 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.113 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s payout ratio is currently 116.01%.

Insider Buying and Selling

In related news, Director Trevor Ebl sold 9,554 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of C$68.48, for a total value of C$654,219.70. Also, Senior Officer Patrick M. Keys sold 17,127 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of C$62.71, for a total transaction of C$1,074,049.58. Over the last quarter, insiders have sold 214,476 shares of company stock valued at $14,299,929. 0.03% of the stock is owned by 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.