TC Energy (TSE:TRP) Downgraded to Sell at Wolfe Research

Wolfe Research cut shares of TC Energy (TSE:TRPGet Rating) (NYSE:TRP) to a sell rating in a report released on Monday morning, MarketBeat.com reports. They currently have C$57.00 target price on the stock.

Several other research firms also recently commented on TRP. Raymond James downgraded shares of TC Energy from a strong-buy rating to an outperform rating and set a C$67.50 price objective on the stock. in a report on Wednesday, February 16th. TD Securities boosted their target price on shares of TC Energy from C$72.00 to C$75.00 and gave the company a buy rating in a research report on Friday, April 1st. Tudor Pickering & Holt boosted their target price on shares of TC Energy from C$63.00 to C$65.00 and gave the company a hold rating in a research report on Wednesday, February 16th. CIBC cut shares of TC Energy from an outperform rating to a hold rating and set a C$69.00 target price for the company. in a research report on Wednesday, February 16th. Finally, National Bankshares boosted their target price on shares of TC Energy from C$65.00 to C$66.00 and gave the company a sector perform rating in a research report on Thursday, February 17th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of C$68.81.

TSE:TRP opened at C$72.40 on Monday. TC Energy has a one year low of C$57.71 and a one year high of C$74.39. The company has a market cap of C$71.04 billion and a P/E ratio of 38.92. The firm’s fifty day moving average price is C$69.11 and its two-hundred day moving average price is C$64.62. The company has a debt-to-equity ratio of 159.34, a current ratio of 0.57 and a quick ratio of 0.37.

TC Energy (TSE:TRPGet Rating) (NYSE:TRP) last released its quarterly earnings data on Tuesday, February 15th. The company reported C$1.06 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of C$1.06. The company had revenue of C$3.58 billion during the quarter. As a group, equities research analysts expect that TC Energy will post 4.4899999 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 29th. Stockholders of record on Thursday, March 31st will be issued a $0.90 dividend. The ex-dividend date is Wednesday, March 30th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.97%. This is a boost from TC Energy’s previous quarterly dividend of $0.87. TC Energy’s dividend payout ratio is 187.10%.

In other news, Senior Officer G. Glenn Menuz sold 16,517 shares of the stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of C$72.25, for a total value of C$1,193,328.47. Also, Director Mark Yeomans acquired 421 shares of the stock in a transaction dated Wednesday, March 30th. The stock was purchased at an average cost of C$71.04 per share, with a total value of C$29,906.32. Following the purchase, the director now directly owns 2,987 shares of the company’s stock, valued at C$212,185.73. In the last three months, insiders bought 6,411 shares of company stock valued at $443,372 and sold 128,831 shares valued at $8,895,866.

About TC Energy (Get Rating)

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Storage segments. The company builds and operates 93,400 km network 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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