TC Energy (NYSE:TRP) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of TC Energy (NYSE:TRP – Free Report) (TSE:TRP) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other brokerages also recently issued reports on TRP. TD Securities reissued a “buy” rating on shares of TC Energy in a research report on Friday, October 17th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a report on Monday, October 20th. Royal Bank Of Canada upped their price target on TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research report on Tuesday, October 14th. Finally, Cibc Captl Mkts raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

Check Out Our Latest Stock Analysis on TRP

TC Energy Price Performance

NYSE TRP opened at $55.80 on Friday. The company has a 50-day moving average price of $53.39 and a 200-day moving average price of $51.43. TC Energy has a 52 week low of $43.51 and a 52 week high of $56.34. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $58.08 billion, a P/E ratio of 24.05 and a beta of 0.70.

TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.56. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter last year, the firm posted $1.03 earnings per share. Equities research analysts anticipate that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.85 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.40 dividend on an annualized basis and a yield of 6.1%. TC Energy’s payout ratio is 106.47%.

Hedge Funds Weigh In On TC Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacifica Partners Inc. raised its position in TC Energy by 14.0% during the third quarter. Pacifica Partners Inc. now owns 1,625 shares of the pipeline company’s stock valued at $87,000 after purchasing an additional 200 shares during the period. Mesirow Financial Investment Management Inc. increased its position in shares of TC Energy by 2.0% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock valued at $544,000 after purchasing an additional 200 shares during the last quarter. Kingswood Wealth Advisors LLC raised its holdings in TC Energy by 2.8% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock valued at $399,000 after buying an additional 202 shares during the period. Checchi Capital Advisers LLC lifted its position in TC Energy by 3.4% in the third quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock worth $336,000 after buying an additional 204 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its stake in TC Energy by 2.3% during the second quarter. Park Avenue Securities LLC now owns 9,947 shares of the pipeline company’s stock worth $485,000 after buying an additional 225 shares during the period. Institutional investors own 83.13% of the company’s stock.

About TC Energy

(Get Free Report)

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.

Featured Articles