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 issued on Thursday,Zacks.com reports.

TRP has been the subject of a number of other research reports. 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. UBS Group raised TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. National Bankshares upped their price objective on TC Energy from C$70.00 to C$71.00 in a report on Wednesday. Scotiabank increased their price objective on TC Energy from C$74.00 to C$75.00 in a research report on Wednesday. Finally, Royal Bank of Canada boosted their target price on shares of TC Energy from C$67.00 to C$71.00 in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of C$69.54.

TC Energy Trading Down 0.7 %

TSE TRP opened at C$69.65 on Thursday. TC Energy has a one year low of C$43.83 and a one year high of C$70.32. The firm 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. The firm’s fifty day moving average is C$65.01 and its two-hundred day moving average is C$59.04. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$1.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of C$4.08 billion during the quarter, compared to analysts’ expectations of C$3.90 billion. Analysts expect that TC Energy will post 3.5490515 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $1.113 dividend. 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%. This is a positive change from TC Energy’s previous quarterly dividend of $0.96. TC Energy’s dividend payout ratio is presently 116.01%.

Insider Buying and Selling

In related news, Senior Officer Francois Lionel Poirier sold 118,243 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of C$68.38, for a total transaction of C$8,085,219.85. Also, Director Lindsay Mackay sold 3,520 shares of TC Energy stock in a transaction dated Monday, November 18th. The shares were sold at an average price of C$70.00, for a total value of C$246,400.00. In the last quarter, insiders sold 214,476 shares of company stock worth $14,299,929. 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.