TC Energy (TSE:TRP) Upgraded to Strong-Buy at TD Securities

TD Securities upgraded shares of TC Energy (TSE:TRP) (NYSE:TRP) to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

A number of other analysts have also recently issued reports on TRP. Barclays increased their price objective on TC Energy from C$67.00 to C$74.00 in a report on Wednesday, November 20th. Morgan Joseph raised TC Energy from an “underweight” rating to an “overweight” rating and raised their price target for the company from C$62.00 to C$78.00 in a report on Friday, October 25th. Raymond James raised TC Energy to a “hold” rating in a report on Thursday, November 21st. BMO Capital Markets raised their price target on TC Energy from C$70.00 to C$73.00 in a report on Friday, November 29th. Finally, Royal Bank of Canada raised their price target on TC Energy from C$67.00 to C$71.00 in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, TC Energy currently has a consensus rating of “Moderate Buy” and an average target price of C$71.62.

TC Energy Stock Up 0.9 %

TRP stock opened at C$67.16 on Tuesday. The stock has a fifty day moving average of C$67.62 and a 200-day moving average of C$62.66. The company has a market capitalization of C$69.85 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.69 and a beta of 0.82. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. TC Energy has a fifty-two week low of C$43.83 and a fifty-two week high of C$70.32.

TC Energy (TSE:TRP) (NYSE:TRP) last issued 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 analysts’ expectations of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. As a group, equities research analysts predict that TC Energy will post 3.5490515 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 dividend yield of 6.63%. TC Energy’s dividend payout ratio is 116.01%.

Insider Transactions at TC Energy

In related news, Senior Officer Nancy Angenita Johnson sold 3,328 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of C$67.75, for a total value of C$225,472.00. Also, Senior Officer Stanley G. Chapman Iii sold 267,435 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of C$66.51, for a total value of C$17,785,898.39. Insiders sold a total of 420,911 shares of company stock valued at $28,259,105 over the last 90 days. Company insiders own 0.03% 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.