StockNews.com Begins Coverage on TC Energy (NYSE:TRP)

StockNews.com initiated coverage on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a research note released on Tuesday morning. The brokerage issued a hold rating on the pipeline company’s stock.

TRP has been the topic of several other research reports. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. BMO Capital Markets raised their price objective on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Veritas upgraded TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.67.

TC Energy Stock Down 0.7 %

NYSE TRP opened at $48.74 on Tuesday. TC Energy has a 1-year low of $31.83 and a 1-year high of $50.37. The company has a market capitalization of $50.59 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 4.19 and a beta of 0.81. The stock’s 50 day moving average is $47.32 and its two-hundred day moving average is $43.41. 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 announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. Equities analysts forecast that TC Energy will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed 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 represents a $3.29 dividend on an annualized basis and a yield of 6.75%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is presently 78.95%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in shares of TC Energy during the first quarter worth $104,000. Silvercrest Asset Management Group LLC grew its position in shares of TC Energy by 5.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 30,000 shares of the pipeline company’s stock worth $1,206,000 after buying an additional 1,637 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of TC Energy by 38.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,253 shares of the pipeline company’s stock valued at $292,000 after acquiring an additional 2,003 shares during the last quarter. Atria Investments Inc raised its position in shares of TC Energy by 2.2% in the 1st quarter. Atria Investments Inc now owns 50,575 shares of the pipeline company’s stock valued at $2,033,000 after acquiring an additional 1,101 shares during the period. Finally, Cetera Investment Advisers boosted 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 acquiring an additional 42,024 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

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.