TC Energy (NYSE:TRP) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a research report sent to investors on Tuesday. The brokerage issued a hold rating on the pipeline company’s stock.

TRP has been the topic of several other research reports. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. The Goldman Sachs Group upped their price target on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. BMO Capital Markets upped their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Finally, Veritas upgraded shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $55.67.

TC Energy Stock Down 0.7 %

TRP opened at $48.41 on Tuesday. The firm’s 50-day simple moving average is $47.43 and its 200-day simple moving average is $43.48. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37. The firm has a market cap of $50.25 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 4.12 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. Equities research analysts anticipate that TC Energy will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.822 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.79%. TC Energy’s dividend payout ratio is 67.31%.

Institutional Trading of TC Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors increased its stake in shares of TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after acquiring an additional 242 shares during the last quarter. Signaturefd LLC increased its stake in shares of TC Energy by 1.6% in the 2nd quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock valued at $621,000 after acquiring an additional 261 shares during the last quarter. Prospera Financial Services Inc increased its stake in shares of TC Energy by 4.8% in the 3rd quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock valued at $274,000 after acquiring an additional 262 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of TC Energy by 8.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock valued at $167,000 after acquiring an additional 264 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares during the last quarter. 83.13% of the stock is 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.