TC Energy (TSE:TRP) Upgraded by UBS Group to Strong-Buy

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

TRP has been the topic of several other reports. National Bankshares boosted their target price on TC Energy from C$60.00 to C$65.00 and gave the stock an outperform rating in a report on Friday, August 23rd. BMO Capital Markets raised their price target on shares of TC Energy from C$57.00 to C$65.00 in a report on Thursday, September 5th. Barclays increased their price objective on TC Energy from C$61.00 to C$64.00 in a research report on Monday, August 19th. Jefferies Financial Group boosted their target price on TC Energy from C$57.00 to C$66.00 and gave the stock a hold rating in a research report on Monday. Finally, Wells Fargo & Company raised their price target on TC Energy from C$59.00 to C$64.00 in a report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of C$58.38.

TC Energy Stock Performance

TSE:TRP opened at C$59.40 on Monday. TC Energy has a 12-month low of C$44.70 and a 12-month high of C$65.39. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84. The firm has a 50-day moving average price of C$61.36 and a 200 day moving average price of C$55.61. The firm has a market capitalization of C$61.78 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 0.26 and a beta of 0.82.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of C$4.09 billion during the quarter, compared to analysts’ expectations of C$3.78 billion. Research analysts anticipate that TC Energy will post 4.4244068 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, September 27th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 6.46%. TC Energy’s dividend payout ratio is 116.01%.

Insiders Place Their Bets

In other TC Energy news, Director Jawad Masud sold 6,041 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$63.50, for a total transaction of C$383,603.50. In other TC Energy news, Director Jawad Masud sold 6,041 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$63.50, for a total transaction of C$383,603.50. Also, Director Colin Lindley sold 2,773 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of C$59.42, for a total value of C$164,761.40. Following the completion of the sale, the director now owns 697 shares in the company, valued at C$41,413.16. Over the last ninety days, insiders have sold 95,479 shares of company stock worth $5,860,018. Corporate 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.