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

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

Other analysts have also issued research reports about the company. Barclays boosted their price target on TC Energy from C$67.00 to C$74.00 in a report on Wednesday, November 20th. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised their price objective on shares of TC Energy from C$70.00 to C$79.00 in a research report on Monday, November 18th. Royal Bank of Canada upped their target price on shares of TC Energy from C$67.00 to C$71.00 in a report on Friday, November 8th. Finally, Scotiabank increased their price target on TC Energy from C$74.00 to C$75.00 in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$69.54.

TC Energy Trading Down 0.7 %

Shares of TSE TRP opened at C$69.65 on Thursday. The firm’s 50 day moving average price is C$65.01 and its 200-day moving average price is C$59.09. TC Energy has a 52-week low of C$43.83 and a 52-week high of C$70.32. 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 company has a market cap of C$72.44 billion, a PE ratio of 21.04, a P/E/G ratio of 1.69 and a beta of 0.82.

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

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $1.113 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 dividend on an annualized basis and a dividend yield of 6.39%. TC Energy’s dividend payout ratio is presently 116.01%.

Insider Activity at TC Energy

In other TC Energy news, Senior Officer Patrick M. Keys sold 17,127 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of C$62.71, for a total transaction of C$1,074,049.58. Also, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was bought at an average price of C$63.06 per share, for a total transaction of C$34,367.70. Insiders sold 214,476 shares of company stock worth $14,299,929 in the last 90 days. 0.03% of the stock is owned by corporate 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.