TC Energy (TSE:TRP) Upgraded at Raymond James

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

A number of other research firms have also recently commented on TRP. Morgan Joseph raised shares of TC Energy from an "underweight" rating to an "overweight" rating and boosted their price target for the stock from C$62.00 to C$78.00 in a research note on Friday, October 25th. Barclays boosted their price target on shares of TC Energy from C$67.00 to C$74.00 in a research note on Wednesday. UBS Group raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 30th. JPMorgan Chase & Co. boosted their target price on TC Energy from C$70.00 to C$79.00 in a research note on Monday, November 18th. Finally, Scotiabank increased their target price on shares of TC Energy from C$74.00 to C$75.00 in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of C$69.54.

TC Energy Stock Performance

TC Energy stock traded down C$0.49 during midday trading on Thursday, reaching C$69.65. The stock had a trading volume of 1,538,100 shares, compared to its average volume of 6,822,745. The firm has a market capitalization 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 has a 12 month low of C$43.83 and a 12 month high of C$70.32. 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'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 - Get Free Report) NYSE: TRP last posted its earnings results on Thursday, November 7th. The company reported C$1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.97 by C$0.06. The firm had revenue of C$4.08 billion for the quarter, compared to the consensus estimate 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, research analysts predict that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $4.45 dividend on an annualized basis and a yield of 6.39%. TC Energy's payout ratio is currently 116.01%.

Insider Buying and Selling at TC Energy

In other TC Energy news, Senior Officer Patrick M. Keys sold 17,127 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of C$62.71, for a total value of C$1,074,049.58. Also, Director Colin Lindley sold 3,194 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of C$68.70, for a total transaction of C$219,425.56. Following the completion of the transaction, the director now directly owns 697 shares of the company's stock, valued at approximately C$47,883.41. This represents a 82.09 % decrease in their ownership of the stock. Insiders sold a total of 214,476 shares of company stock valued at $14,299,929 in the last ninety 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.