TC Energy (TSE:TRP) Rating Increased to Strong-Buy at TD Securities

TD Securities upgraded shares of TC Energy (TSE:TRP) (NYSE:TRP) to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

TRP has been the subject of several other reports. Jefferies Financial Group boosted their price objective on TC Energy from C$64.00 to C$65.00 in a research report on Wednesday, November 20th. Morgan Joseph raised TC Energy from an “underweight” rating to an “overweight” rating and upped their price target for the stock from C$62.00 to C$78.00 in a research report on Friday, October 25th. Scotiabank upped their price target on TC Energy from C$74.00 to C$75.00 in a research report on Wednesday, November 20th. BMO Capital Markets upped their price target on TC Energy from C$70.00 to C$73.00 in a research report on Friday, November 29th. Finally, National Bankshares upped their price target on TC Energy from C$70.00 to C$71.00 in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, TC Energy has an average rating of “Moderate Buy” and a consensus price target of C$71.62.

TC Energy Stock Performance

Shares of TSE:TRP opened at C$67.16 on Tuesday. The stock has a market capitalization of C$69.85 billion, a P/E ratio of 20.29, a P/E/G ratio of 1.69 and a beta of 0.82. TC Energy has a 1-year low of C$43.83 and a 1-year high of C$70.32. The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 160.84. The business has a 50-day moving average price of C$67.62 and a two-hundred day moving average price of C$62.66.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, beating analysts’ consensus estimates of C$0.97 by C$0.06. The company had revenue of C$4.08 billion during the quarter, compared to analysts’ expectations of C$3.90 billion. TC Energy had a return on equity of 10.68% and a net margin of 21.38%. Equities analysts predict that TC Energy will post 3.5490515 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently disclosed 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 is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.96. This represents a $4.45 annualized dividend and a yield of 6.63%. TC Energy’s dividend payout ratio (DPR) is 116.01%.

Insider Activity at TC Energy

In other news, Senior Officer Stanley G. Chapman Iii sold 267,435 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of C$66.51, for a total transaction of C$17,785,898.39. Also, Director Trevor Ebl sold 9,554 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of C$68.48, for a total value of C$654,219.70. Insiders have sold 420,911 shares of company stock valued at $28,259,105 over the last ninety days. 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.