TC Energy (TSE:TRP) Lifted 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 report released on Friday, BayStreet.CA reports. Morgan Joseph currently has C$78.00 price objective on the stock, up from their previous price objective of C$62.00.

Several other equities analysts have also recently commented on TRP. ATB Capital reduced their price objective 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 note on Thursday, October 3rd. JPMorgan Chase & Co. reduced their price objective 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. Scotiabank reduced their price objective on shares of TC Energy from C$62.00 to C$61.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. Jefferies Financial Group boosted their price objective 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, National Bankshares dropped 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 report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, TC Energy has a consensus rating of “Hold” and an average price target of C$61.92.

TC Energy Price Performance

TRP opened at C$65.68 on Friday. The company 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 firm has a 50-day moving average price of C$62.62 and a 200-day moving average price of C$56.49. TC Energy has a twelve month low of C$42.45 and a twelve month high of C$66.70.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, topping the consensus estimate 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%. Equities analysts expect that TC Energy will post 3.5490515 EPS for the current year.

TC Energy Announces Dividend

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

Insider Transactions at TC Energy

In other TC Energy news, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of the stock in a transaction dated Tuesday, September 24th. The stock was purchased at an average cost of C$63.06 per share, for a total transaction of C$34,367.70. 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 stock was bought at an average cost of C$63.06 per share, for a total transaction of C$34,367.70. Also, Director Richard Prior sold 18,068 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of C$63.00, for a total transaction of C$1,138,284.00. In 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 insiders.

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.