By otakuyassine3@gmail.com 
StockNews.com lowered shares of TC Energy (NYSE:TRP – Free Report) (TSE:TRP) from a buy rating to a hold rating in a research report sent to investors on Thursday.
Several other equities research analysts also recently commented on the company. Royal Bank of Canada boosted their price objective on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. TD Securities started coverage on TC Energy in a report on Wednesday, January 15th. They set a “buy” rating for the company. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. BMO Capital Markets boosted their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Finally, Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.
Get Our Latest Stock Analysis on TRP
TC Energy Trading Up 0.8 %
Shares of TRP stock opened at $45.86 on Thursday. The company has a market cap of $47.66 billion, a P/E ratio of 14.15, a PEG ratio of 4.34 and a beta of 0.83. The stock has a 50 day simple moving average of $46.28 and a two-hundred day simple moving average of $46.74. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. TC Energy has a fifty-two week low of $31.83 and a fifty-two week high of $50.37.
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.51 by $0.54. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter in the previous year, the company posted $1.35 earnings per share. Research analysts forecast that TC Energy will post 2.63 earnings per share for the current year.
TC Energy Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.85 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.41%. TC Energy’s payout ratio is presently 72.53%.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Value Partners Investments Inc. purchased a new position in TC Energy in the fourth quarter worth $245,000. Parr Mcknight Wealth Management Group LLC purchased a new position in TC Energy in the fourth quarter worth $2,510,000. Public Employees Retirement System of Ohio boosted its position in TC Energy by 343.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 351,705 shares of the pipeline company’s stock worth $16,375,000 after purchasing an additional 272,457 shares during the last quarter. Vise Technologies Inc. purchased a new position in TC Energy in the fourth quarter worth $222,000. Finally, USS Investment Management Ltd boosted its position in TC Energy by 16.7% in the fourth quarter. USS Investment Management Ltd now owns 187,438 shares of the pipeline company’s stock worth $8,716,000 after purchasing an additional 26,768 shares during the last quarter. Hedge funds and other institutional investors 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.
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