TC Energy (NYSE:TRP) Now Covered by Analysts at TD Securities

TD Securities began coverage on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a research report report published on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating on the pipeline company’s stock.

A number of other equities analysts have also commented on the company. Veritas raised TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. StockNews.com began coverage on shares of TC Energy in a research report on Wednesday, December 4th. They set a “hold” rating for the company. The Goldman Sachs Group increased their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Finally, BMO Capital Markets increased their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and a consensus target price of $55.67.

TC Energy Price Performance

Shares of TRP opened at $46.87 on Wednesday. TC Energy has a 12-month low of $31.83 and a 12-month high of $50.37. The business has a 50-day simple moving average of $47.71 and a two-hundred day simple moving average of $45.48. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The stock has a market cap of $48.69 billion, a PE ratio of 12.98, a PEG ratio of 4.31 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.83 billion. Analysts anticipate that TC Energy will post 2.95 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. This represents a $3.29 dividend on an annualized basis and a dividend yield of 7.02%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio is presently 63.43%.

Hedge Funds Weigh In On TC Energy

A number of institutional investors and hedge funds have recently modified their holdings of TRP. Fortitude Family Office LLC bought a new position in shares of TC Energy during the 3rd quarter worth approximately $28,000. Blue Trust Inc. boosted its holdings 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 buying an additional 267 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of TC Energy in the 4th quarter worth $33,000. Point72 DIFC Ltd bought a new position in shares of TC Energy in the 3rd quarter worth $39,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of TC Energy by 215.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company’s stock worth $57,000 after purchasing an additional 826 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

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.