TC Energy (TSE:TRP) Raised to Hold at Raymond James

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

TRP has been the topic of a number of other research reports. National Bankshares lifted their price objective on shares of TC Energy from C$70.00 to C$71.00 in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of TC Energy from C$70.00 to C$79.00 in a research note on Monday, November 18th. Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. BMO Capital Markets lifted their target price on TC Energy from C$66.00 to C$70.00 in a research report on Wednesday. Finally, UBS Group raised TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$69.54.

TC Energy Trading Down 0.7 %

TSE TRP opened at C$69.65 on Thursday. The firm has a market capitalization of C$72.44 billion, a price-to-earnings ratio of 21.04, 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 one year low of C$43.83 and a one year high of C$70.32. The company’s 50 day moving average price is C$65.01 and its 200 day moving average price is C$59.04.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, beating the consensus estimate of C$0.97 by C$0.06. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The business had revenue of C$4.08 billion for the quarter, compared to analyst estimates of C$3.90 billion. On average, sell-side analysts predict that TC Energy will post 3.5490515 EPS for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $1.113 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 annualized dividend and a dividend yield of 6.39%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio is currently 116.01%.

Insiders Place Their Bets

In other TC Energy news, Director Lindsay Mackay sold 3,520 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of C$70.00, for a total value of C$246,400.00. Also, Senior Officer Patrick M. Keys sold 17,127 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of C$62.71, for a total transaction of C$1,074,049.58. Insiders sold a total of 214,476 shares of company stock valued at $14,299,929 over the last 90 days. 0.03% of the stock is owned by company insiders.

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.