TC Energy (NYSE:TRP) Research Coverage Started at StockNews.com

by · The Markets Daily

StockNews.com initiated coverage on shares of TC Energy (NYSE:TRP – Free Report) (TSE:TRP) in a research note issued to investors on Thursday. The firm issued a hold rating on the pipeline company’s stock.

Separately, Barclays raised shares of TC Energy from an equal weight rating to an overweight rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $43.50.

Check Out Our Latest Stock Report on TRP

TC Energy Trading Up 2.6 %

Shares of TRP opened at $46.18 on Thursday. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. TC Energy has a 1-year low of $32.51 and a 1-year high of $47.38. The stock has a market cap of $46.18 billion, a price-to-earnings ratio of 23.80, a price-to-earnings-growth ratio of 3.81 and a beta of 0.81. The firm has a 50 day simple moving average of $44.02 and a 200-day simple moving average of $40.37.

TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last issued its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same quarter last year, the firm earned $0.71 earnings per share. Equities analysts forecast that TC Energy will post 3.06 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.702 per share. The ex-dividend date is Friday, September 27th. This represents a $2.81 annualized dividend and a dividend yield of 6.08%. TC Energy’s payout ratio is 146.39%.

Institutional Trading of TC Energy

Institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC bought a new stake in shares of TC Energy in the 4th quarter valued at about $208,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of TC Energy by 13.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,035 shares of the pipeline company’s stock worth $431,000 after acquiring an additional 1,331 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of TC Energy by 6.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 73,182 shares of the pipeline company’s stock worth $2,861,000 after buying an additional 4,222 shares during the last quarter. Financial Advocates Investment Management grew its stake in shares of TC Energy by 5.4% during the fourth quarter. Financial Advocates Investment Management now owns 6,121 shares of the pipeline company’s stock worth $240,000 after buying an additional 316 shares during the last quarter. Finally, Corient Private Wealth LLC increased its holdings in TC Energy by 25.3% in the 4th quarter. Corient Private Wealth LLC now owns 18,832 shares of the pipeline company’s stock worth $736,000 after purchasing an additional 3,808 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

About TC Energy

(Get Free Report)

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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