Veritas upgraded shares of TC Energy (NYSE:TRP – Free Report) (TSE:TRP) to a strong sell rating in a report issued on Tuesday morning, Zacks.com reports.
A number of other research analysts have also commented on TRP. Barclays raised TC Energy from an equal weight rating to an overweight rating in a report on Wednesday, July 17th. UBS Group upgraded shares of TC Energy from a neutral rating to a buy rating in a research report on Monday, September 30th. Finally, StockNews.com began coverage on shares of TC Energy in a research report on Saturday, October 5th. They set a hold rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $43.50.
Read Our Latest Stock Report on TRP
TC Energy Trading Up 1.3 %
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same period in the prior year, the business earned $0.71 EPS. On average, equities analysts expect that TC Energy will post 3.06 earnings per share for the current year.
TC Energy Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is currently 116.80%.
Institutional Trading of TC Energy
A number of large investors have recently added to or reduced their stakes in TRP. Murchinson Ltd. acquired a new stake in TC Energy during the 1st quarter worth about $506,485,000. Canada Pension Plan Investment Board increased its position in shares of TC Energy by 107.1% in the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock worth $737,609,000 after acquiring an additional 10,065,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of TC Energy by 94.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock valued at $688,534,000 after acquiring an additional 8,339,800 shares during the period. FIL Ltd lifted its position in shares of TC Energy by 37.2% in the 4th quarter. FIL Ltd now owns 16,706,812 shares of the pipeline company’s stock valued at $652,613,000 after acquiring an additional 4,528,555 shares in the last quarter. Finally, Merewether Investment Management LP acquired a new position in TC Energy in the 2nd quarter worth approximately $112,618,000. 83.13% of the stock is currently owned by institutional investors.
TC Energy Company Profile
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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