TC Energy (TSE:TRP) Stock Rating Upgraded by UBS Group

UBS Group upgraded shares of TC Energy (TSE:TRP) (NYSE:TRP) from a hold rating to a strong-buy rating in a research note published on Monday, Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. National Bankshares boosted their price objective on shares of TC Energy from C$60.00 to C$65.00 and gave the company an outperform rating in a research report on Friday, August 23rd. ATB Capital upped their price objective on TC Energy from C$56.00 to C$60.00 and gave the stock a sector perform rating in a research note on Tuesday, September 10th. Scotiabank lowered their price target on TC Energy from C$62.00 to C$61.00 and set an outperform rating on the stock in a report on Wednesday, September 25th. Jefferies Financial Group lifted their price target on shares of TC Energy from C$57.00 to C$66.00 and gave the company a hold rating in a report on Monday. Finally, BMO Capital Markets boosted their price target on shares of TC Energy from C$57.00 to C$65.00 in a research note on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of C$59.31.

TC Energy Stock Performance

Shares of TSE TRP opened at C$65.26 on Monday. The firm’s 50-day moving average price is C$61.31 and its 200-day moving average price is C$55.58. TC Energy has a 52-week low of C$44.70 and a 52-week high of C$65.40. The company has a market cap of C$67.87 billion, a PE ratio of 19.72, a PEG ratio of 0.26 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.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (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 business had revenue of C$4.09 billion for the quarter, compared to analysts’ expectations of C$3.78 billion. As a group, analysts anticipate that TC Energy will post 4.4244068 EPS for the current year.

TC Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 5.88%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio is currently 116.01%.

Insider Activity at TC Energy

In other TC Energy news, Director Rosemary K. Stevens sold 1,200 shares of TC Energy stock in a transaction on 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 completion of the transaction, the director now directly owns 987 shares of the company’s stock, valued at C$59,101.56. In other news, Director Colin Lindley sold 2,773 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 in the company, valued at C$41,413.16. Also, Director Rosemary K. Stevens sold 1,200 shares of the business’s 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 transaction, the director now owns 987 shares of the company’s stock, valued at approximately C$59,101.56. In the last 90 days, insiders have sold 95,479 shares of company stock worth $5,860,018. Company insiders own 0.04% 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.