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

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

Several other research analysts also recently commented on TRP. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. 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. Finally, Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $55.67.

TC Energy Stock Performance

Shares of TRP opened at $50.22 on Monday. TC Energy has a 52-week low of $31.83 and a 52-week high of $50.29. The stock’s 50-day simple moving average is $47.16 and its 200 day simple moving average is $43.10. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The stock has a market capitalization of $52.12 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 4.19 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (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 net margin of 31.15% and a return on equity of 12.92%. Research analysts forecast that TC Energy will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.822 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.55%. TC Energy’s payout ratio is presently 78.95%.

Hedge Funds Weigh In On TC Energy

Several institutional investors and hedge funds have recently made changes to their positions in TRP. EdgeRock Capital LLC purchased a new stake in TC Energy during the second quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 429 shares during the period. Fortitude Family Office LLC bought a new position in TC Energy during the 3rd quarter worth approximately $28,000. Blue Trust Inc. increased its stake in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares during the period. Finally, Mather Group LLC. purchased a new position in TC Energy in the 2nd quarter worth approximately $33,000. Institutional investors own 83.13% of the company’s stock.

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.