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

StockNews.com started coverage on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a research report report published on Tuesday morning. The firm issued a hold rating on the pipeline company’s stock.

TRP has been the subject of several other reports. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group upped their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Finally, BMO Capital Markets upped their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, TC Energy has a consensus rating of “Hold” and an average price target of $55.67.

TC Energy Price Performance

Shares of TRP opened at $48.90 on Tuesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy has a 1-year low of $31.83 and a 1-year high of $50.37. The stock has a market cap of $50.76 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 4.03 and a beta of 0.81. The firm has a fifty day moving average price of $47.49 and a 200 day moving average price of $43.55.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating 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%. As a group, sell-side analysts anticipate that TC Energy will post 3 EPS for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.72%. 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 payout ratio is 78.95%.

Institutional Investors Weigh In On TC Energy

A number of hedge funds have recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new stake in shares of TC Energy in the 2nd quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in TC Energy by 138.8% in the second 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 purchased a new stake in shares of TC Energy during the 3rd quarter worth $28,000. Blue Trust Inc. grew its stake in shares of TC Energy by 72.0% during 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 shares of TC Energy in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds 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.