StockNews.com Begins Coverage on TC Energy (NYSE:TRP)

StockNews.com began coverage on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a research note published on Monday. The firm issued a hold rating on the pipeline company’s stock.

Several other analysts also recently issued reports on the company. The Goldman Sachs Group upped their price target on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, TC Energy presently has an average rating of “Hold” and a consensus price target of $48.50.

TC Energy Stock Performance

Shares of NYSE TRP opened at $49.90 on Monday. TC Energy has a one year low of $31.83 and a one year high of $50.22. The business’s 50-day moving average price is $46.93 and its two-hundred day moving average price is $42.92. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The company has a market capitalization of $51.79 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81.

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

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a yield of 6.59%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is presently 78.95%.

Institutional Trading of TC Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new stake in shares of TC Energy during the second quarter worth $25,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of TC Energy by 138.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after buying an additional 429 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in TC Energy during the 3rd quarter worth $28,000. Blue Trust Inc. lifted its holdings in TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 267 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in TC Energy in the second quarter valued at about $33,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

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.