TC Energy (TSE:TRP) Upgraded to "Overweight" at Morgan Joseph

Morgan Joseph upgraded shares of TC Energy (TSE:TRP - Free Report) NYSE: TRP from an underweight rating to an overweight rating in a report released on Friday morning, BayStreet.CA reports. Morgan Joseph currently has C$78.00 price objective on the stock, up from their prior price objective of C$62.00.

Several other equities research analysts have also weighed in on TRP. National Bankshares reduced their price objective on TC Energy from C$65.00 to C$60.00 and set an "outperform" rating for the company in a research note on Thursday, October 3rd. ATB Capital reduced their price objective on TC Energy from C$60.00 to C$58.00 and set a "sector perform" rating for the company in a research note on Thursday, October 3rd. Barclays raised their price objective on TC Energy from C$66.00 to C$67.00 in a research note on Monday. Jefferies Financial Group raised their price objective on TC Energy from C$57.00 to C$66.00 and gave the stock a "hold" rating in a research note on Monday, September 30th. Finally, Scotiabank cut their target price on shares of TC Energy from C$62.00 to C$61.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of "Hold" and a consensus price target of C$61.92.

TC Energy Price Performance

TC Energy stock traded up C$0.60 during midday trading on Friday, hitting C$65.68. The company's stock had a trading volume of 2,599,354 shares, compared to its average volume of 7,215,551. TC Energy has a 12 month low of C$42.45 and a 12 month high of C$66.70. 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 stock's 50-day moving average price is C$62.62 and its 200-day moving average price is C$56.49. The company has a market capitalization of C$68.31 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 1.69 and a beta of 0.82.

TC Energy (TSE:TRP - Get Free Report) NYSE: TRP last issued its earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share 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. Analysts anticipate that TC Energy will post 3.5490515 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.96 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.84 annualized dividend and a dividend yield of 5.85%. TC Energy's payout ratio is 116.01%.

Insider Activity at TC Energy

In other TC Energy news, Director Colin Lindley sold 2,773 shares of the business's stock in a transaction that occurred on 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 directly owns 697 shares of the company's stock, valued at C$41,413.16. The trade was a 0.00 % decrease in their ownership of the stock. In other news, Director Rosemary K. Stevens sold 1,200 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$59.88, for a total transaction of C$71,856.00. Following the transaction, the director now owns 987 shares of the company's stock, valued at approximately C$59,101.56. This represents a 0.00 % decrease in their position. Also, Director Colin Lindley sold 2,773 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 697 shares in the company, valued at approximately C$41,413.16. This trade represents a 0.00 % decrease in their position. Over the last quarter, insiders have sold 95,479 shares of company stock valued at $5,860,018. 0.03% 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.