TC Energy (NYSE:TRP) Upgraded to “Overweight” at Morgan Stanley

Morgan Stanley upgraded shares of TC Energy (NYSE:TRP) (TSE:TRP) from an underweight rating to an overweight rating in a research report report published on Friday, Marketbeat.com reports.

TRP has been the topic of a number of other reports. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. StockNews.com assumed coverage on TC Energy in a report on Saturday, October 5th. They issued a “hold” rating on the stock. Finally, Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.50.

TC Energy Trading Up 0.6 %

Shares of NYSE:TRP opened at $47.26 on Friday. The business’s 50-day moving average is $46.14 and its 200 day moving average is $41.44. TC Energy has a 1 year low of $30.61 and a 1 year high of $48.25. The firm has a market capitalization of $47.26 billion, a P/E ratio of 24.36, a P/E/G ratio of 3.92 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period in the prior year, the company posted $0.71 EPS. On average, research analysts predict that TC Energy will post 3.02 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.702 per share. This represents a $2.81 annualized dividend and a yield of 5.94%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio is currently 146.39%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors raised its position in TC Energy by 2.7% during the first quarter. Capital Research Global Investors now owns 57,170,304 shares of the pipeline company’s stock valued at $2,297,701,000 after acquiring an additional 1,492,315 shares in the last quarter. Vanguard Group Inc. increased its position in shares of TC Energy by 1.6% in the first quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company’s stock valued at $1,650,505,000 after buying an additional 653,031 shares in the last quarter. 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 valued at $737,609,000 after buying an additional 10,065,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of TC Energy by 94.9% in 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 buying an additional 8,339,800 shares in the last quarter. Finally, TD Asset Management Inc increased its position in shares of TC Energy by 9.5% in the first quarter. TD Asset Management Inc now owns 16,763,150 shares of the pipeline company’s stock valued at $674,366,000 after buying an additional 1,458,732 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

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.