UBS Group Upgrades TC Energy (TSE:TRP) to “Strong-Buy”

TC Energy (TSE:TRP) (NYSE:TRP) was upgraded by investment analysts at UBS Group from a “hold” rating to a “strong-buy” rating in a report issued on Monday, Zacks.com reports.

A number of other brokerages have also issued reports on TRP. Jefferies Financial Group boosted their price target on shares of TC Energy from C$57.00 to C$66.00 and gave the stock a “hold” rating in a research note on Monday. National Bankshares upped their target price on shares of TC Energy from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. ATB Capital raised their price target on shares of TC Energy from C$56.00 to C$60.00 and gave the company a “sector perform” rating in a research report on Tuesday, September 10th. Barclays upped their price objective on TC Energy from C$61.00 to C$64.00 in a research report on Monday, August 19th. Finally, BMO Capital Markets lifted their target price on TC Energy from C$57.00 to C$65.00 in a report on Thursday, September 5th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$59.31.

TC Energy Stock Performance

TSE:TRP opened at C$65.26 on Monday. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. The stock has a market capitalization of C$67.87 billion, a P/E ratio of 19.72, a PEG ratio of 0.26 and a beta of 0.82. The company has a 50 day moving average price of C$61.31 and a 200 day moving average price of C$55.58. TC Energy has a fifty-two week low of C$44.70 and a fifty-two week high of C$65.40.

TC Energy (TSE:TRP) (NYSE:TRP) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, topping analysts’ consensus estimates of C$0.89 by C$0.05. The company had revenue of C$4.09 billion for the quarter, compared to analysts’ expectations of C$3.78 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. Equities research analysts forecast that TC Energy will post 4.4244068 EPS for the current year.

Insider Buying and Selling at TC Energy

In other news, Director Colin Lindley sold 2,773 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the completion of the sale, the director now owns 697 shares in the company, valued at approximately C$41,413.16. In other news, Director Richard Prior sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of C$44.00, for a total transaction of C$132,000.00. Also, Director Colin Lindley sold 2,773 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the sale, the director now owns 697 shares of the company’s stock, valued at approximately C$41,413.16. Insiders have sold 95,479 shares of company stock worth $5,860,018 over the last three months. 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.