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

TC Energy (TSE:TRP) (NYSE:TRP) was upgraded by equities research analysts at Morgan Joseph from an “underweight” rating to an “overweight” rating in a research note issued on Friday, BayStreet.CA reports. The firm presently has a C$78.00 price target on the stock, up from their previous price target of C$62.00. Morgan Joseph’s price objective would suggest a potential upside of 18.76% from the stock’s previous close.

Several other brokerages have also recently issued reports on TRP. JPMorgan Chase & Co. reduced their price objective on 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 cut their target price 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. CIBC dropped their price objective 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. UBS Group upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. Finally, Barclays raised their target price on TC Energy from C$66.00 to C$67.00 in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$61.92.

TC Energy Price Performance

TC Energy stock opened at C$65.68 on Friday. The firm’s fifty day moving average is C$62.74 and its 200 day moving average is C$56.58. 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 cap 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. TC Energy has a 52-week low of C$42.45 and a 52-week high of C$66.70.

TC Energy (TSE:TRP) (NYSE:TRP) last released its 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. The business had revenue of C$4.09 billion for the quarter, compared to analyst estimates of C$3.78 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. Sell-side analysts forecast that TC Energy will post 3.5490515 EPS for the current fiscal year.

Insider Activity at TC Energy

In other news, Director Rosemary K. Stevens sold 1,200 shares of the 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 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 other TC Energy news, Senior Officer Christine R. Johnston sold 16,292 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of C$59.71, for a total transaction of C$972,795.32. Following the sale, the insider now owns 466 shares in the company, valued at approximately C$27,824.86. The trade was a 0.00 % decrease in their position. Also, Director Rosemary K. Stevens sold 1,200 shares of the 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 completion of the sale, the director now owns 987 shares of the company’s stock, valued at C$59,101.56. The trade was a 0.00 % decrease in their position. In the last three months, insiders sold 95,479 shares of company stock valued at $5,860,018. Corporate insiders own 0.03% of the company’s stock.

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.