Analysts’ Weekly Ratings Changes for TC Energy (TRP)

A number of research firms have changed their ratings and price targets for TC Energy (NYSE: TRP):

• 10/14/2024 – TC Energy was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating.
• 10/8/2024 – TC Energy was upgraded by analysts at Veritas Corp to a “strong sell” rating.
• 10/5/2024 – TC Energy is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 9/30/2024 – TC Energy was upgraded by analysts at UBS Group AG from a “neutral” rating to a “buy” rating.
• 9/27/2024 – TC Energy is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 9/19/2024 – TC Energy is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.

TC Energy Stock Performance

TRP stock opened at $46.82 on Wednesday. The company has a 50-day simple moving average of $45.61 and a 200 day simple moving average of $41.07. The company has a market capitalization of $46.82 billion, a P/E ratio of 24.13, a PEG ratio of 3.68 and a beta of 0.81. TC Energy Co. has a fifty-two week low of $30.48 and a fifty-two week high of $46.94. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly 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 analysts’ expectations of $2.78 billion. During the same quarter in the prior year, the company earned $0.71 earnings per share. Sell-side analysts predict that TC Energy Co. will post 3.06 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. Stockholders of record on Friday, September 27th will be paid a $0.702 dividend. This represents a $2.81 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is presently 146.39%.

Hedge Funds Weigh In On TC Energy

A number of hedge funds have recently added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new position in TC Energy during the second quarter worth $25,000. Creekmur Asset Management LLC acquired a new stake in shares of TC Energy during the fourth quarter worth approximately $27,000. Whittier Trust Co. of Nevada Inc. raised its position 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 valued at $28,000 after purchasing an additional 429 shares during the last quarter. Mather Group LLC. acquired a new position in TC Energy during the 2nd quarter worth about $33,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of TC Energy during the second quarter worth approximately $51,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

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.