TC Energy (TSE:TRP) Raised to “Strong-Buy” at UBS Group

by · The Markets Daily

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.

Several other research firms have also recently commented on TRP. Scotiabank lowered their target price on TC Energy from C$62.00 to C$61.00 and set an outperform rating for the company in a research note on Wednesday, September 25th. ATB Capital boosted their price objective on TC Energy from C$56.00 to C$60.00 and gave the stock a sector perform rating in a research report on Tuesday, September 10th. Wells Fargo & Company raised their target price on shares of TC Energy from C$59.00 to C$64.00 in a report on Tuesday, June 4th. Barclays lifted their price target on shares of TC Energy from C$61.00 to C$64.00 in a research note on Monday, August 19th. Finally, CIBC increased their price objective on shares of TC Energy from C$56.00 to C$59.00 in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of C$59.23.

Check Out Our Latest Analysis on TC Energy

TC Energy Trading Up 1.2 %

TSE TRP opened at C$60.12 on Monday. The company has a debt-to-equity ratio of 160.84, a quick ratio of 0.40 and a current ratio of 0.76. The firm has a market cap of C$62.52 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 0.26 and a beta of 0.82. The firm has a 50 day simple moving average of C$61.41 and a 200-day simple moving average of C$55.64. TC Energy has a one year low of C$44.70 and a one year high of C$65.39.

TC Energy (TSE:TRP – Get Free Report) (NYSE:TRP) last issued its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, beating the consensus estimate 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 company had revenue of C$4.09 billion during the quarter, compared to analysts’ expectations of C$3.78 billion. Equities research analysts anticipate that TC Energy will post 4.4244068 EPS for the current fiscal year.

TC Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is currently 116.01%.

Insider Activity

In other news, Senior Officer Dawn Elizabeth De Lima purchased 545 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average price of C$63.06 per share, for a total transaction of C$34,367.70. In other TC Energy news, Director Rosemary K. Stevens sold 1,200 shares of TC Energy stock in a transaction on Monday, August 12th. The shares were sold at an average price of C$59.88, for a total value of C$71,856.00. Following the transaction, the director now directly owns 987 shares in the company, valued at C$59,101.56. Also, Senior Officer Dawn Elizabeth De Lima bought 545 shares of TC Energy stock in a transaction dated Tuesday, September 24th. The stock was acquired at an average cost of C$63.06 per share, with a total value of C$34,367.70. In the last three months, insiders sold 95,479 shares of company stock valued at $5,860,018. Insiders own 0.04% of the company’s stock.

About TC Energy

(Get Free Report)

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.

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