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

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

A number of other equities research analysts also recently commented on the company. JPMorgan Chase & Co. upgraded 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 report on Monday, September 30th. The Goldman Sachs Group increased their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. BMO Capital Markets boosted their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Finally, Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Two equities research 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, TC Energy has a consensus rating of “Hold” and a consensus target price of $55.67.

TC Energy Trading Up 1.0 %

Shares of TRP opened at $48.90 on Tuesday. TC Energy has a 12-month low of $31.83 and a 12-month high of $50.37. The firm has a market capitalization of $50.76 billion, a P/E ratio of 13.55, a P/E/G ratio of 4.03 and a beta of 0.81. The firm has a 50-day moving average price of $47.49 and a 200 day moving average price of $43.55. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. Sell-side analysts forecast that TC Energy will post 3 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared 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 annualized dividend and a yield of 6.72%. 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. TC Energy’s dividend payout ratio (DPR) is currently 78.95%.

Hedge Funds Weigh In On TC Energy

Institutional investors have recently modified their holdings of the business. Cetera Investment Advisers grew its stake in TC Energy by 74.1% during the 1st quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock worth $3,972,000 after purchasing an additional 42,024 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of TC Energy by 2.6% during the second quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock worth $322,584,000 after buying an additional 214,689 shares in the last quarter. Harvest Portfolios Group Inc. grew its position in shares of TC Energy by 107.7% during the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock worth $10,743,000 after buying an additional 117,176 shares in the last quarter. Metis Global Partners LLC increased its stake in shares of TC Energy by 16.3% during the third quarter. Metis Global Partners LLC now owns 95,470 shares of the pipeline company’s stock worth $4,538,000 after buying an additional 13,368 shares during the period. Finally, Legal & General Group Plc raised its holdings in TC Energy by 4.1% in the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock valued at $450,749,000 after acquiring an additional 467,497 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

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.