TC Energy (TSE:TRP) Upgraded to “Hold” at Raymond James

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

Several other research firms have also commented on TRP. Scotiabank increased their price objective on shares of TC Energy from C$74.00 to C$75.00 in a research report on Wednesday. UBS Group raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. CIBC lifted their price target on TC Energy from C$67.00 to C$68.00 in a research report on Wednesday. Veritas upgraded TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, BMO Capital Markets lifted their target price on TC Energy from C$66.00 to C$70.00 in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$69.54.

TC Energy Trading Down 0.7 %

Shares of TRP stock opened at C$69.65 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. The stock has a market capitalization of C$72.44 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82. TC Energy has a 12-month low of C$43.83 and a 12-month high of C$70.32. The stock’s 50-day moving average price is C$65.01 and its 200-day moving average price is 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, topping analysts’ consensus estimates of C$0.97 by C$0.06. The business had revenue of C$4.08 billion for the quarter, compared to the consensus estimate of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. Equities research analysts predict that TC Energy will post 3.5490515 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $1.113 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, December 31st. This represents a $4.45 dividend on an annualized basis and a yield of 6.39%. TC Energy’s dividend payout ratio (DPR) is presently 116.01%.

Insider Transactions at TC Energy

In related news, Senior Officer Francois Lionel Poirier sold 118,243 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of C$68.38, for a total value of C$8,085,219.85. Also, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of TC Energy stock in a transaction on Tuesday, September 24th. The shares were purchased at an average price of C$63.06 per share, for a total transaction of C$34,367.70. Over the last ninety days, insiders sold 214,476 shares of company stock worth $14,299,929. 0.03% of the stock is currently 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.