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

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

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

TC Energy Price Performance

Shares of NYSE TRP opened at $49.90 on Monday. TC Energy has a 1-year low of $31.83 and a 1-year high of $50.22. The firm has a market capitalization of $51.79 billion, a PE ratio of 13.82, a P/E/G ratio of 4.12 and a beta of 0.81. 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 business’s fifty day moving average price is $46.93 and its two-hundred day moving average price is $42.92.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data 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 during 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%. On average, research analysts expect that TC Energy will post 2.98 EPS for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. This represents a $3.29 annualized dividend and a yield of 6.59%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is presently 78.95%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new position in TC Energy during the 3rd quarter worth approximately $28,000. Blue Trust Inc. grew its holdings in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after buying an additional 267 shares in the last quarter. EdgeRock Capital LLC acquired a new position in TC Energy during the second quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. lifted its stake in 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 worth $28,000 after acquiring an additional 429 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in TC Energy during the 3rd quarter worth about $39,000. 83.13% of the stock is 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.