TC Energy (TSE:TRP) Upgraded at UBS Group

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

A number of other brokerages have also commented on TRP. BMO Capital Markets upped their price target on shares of TC Energy from C$57.00 to C$65.00 in a research note on Thursday, September 5th. National Bankshares upped their target price on TC Energy from C$60.00 to C$65.00 and gave the company an outperform rating in a research report on Friday, August 23rd. Scotiabank dropped their price target on TC Energy from C$62.00 to C$61.00 and set an outperform rating for the company in a report on Wednesday, September 25th. ATB Capital boosted their price target on TC Energy from C$56.00 to C$60.00 and gave the company a sector perform rating in a research note on Tuesday, September 10th. Finally, CIBC increased their price objective on TC Energy from C$56.00 to C$59.00 in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of C$58.38.

TC Energy Stock Performance

Shares of TSE TRP traded down C$0.05 during midday trading on Monday, hitting C$59.40. 5,052,104 shares of the company's stock were exchanged, compared to its average volume of 6,691,225. 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 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 has a 12 month low of C$44.70 and a 12 month high of C$65.39. The company's 50 day moving average price is C$61.36 and its 200 day moving average price is C$55.61.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, topping analysts' consensus estimates of C$0.89 by C$0.05. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. The firm had revenue of C$4.09 billion during the quarter, compared to analysts' expectations of C$3.78 billion. As a group, analysts predict that TC Energy will post 4.4244068 earnings per share for the current fiscal year.

TC Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid 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 yield of 6.46%. TC Energy's payout ratio is 116.01%.

Insider Activity

In other TC Energy news, Director Richard Prior sold 3,000 shares of the company's stock in a transaction on Friday, August 16th. The stock was sold at an average price of C$44.00, for a total transaction of C$132,000.00. In other TC Energy news, Director Richard Prior sold 3,000 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of C$44.00, for a total transaction of C$132,000.00. Also, Director Colin Lindley sold 2,773 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of C$59.42, for a total transaction of C$164,761.40. Following the completion of the transaction, the director now directly owns 697 shares of the company's stock, valued at approximately C$41,413.16. In the last ninety days, insiders sold 95,479 shares of company stock worth $5,860,018. 0.04% of the stock is currently 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.