StockNews.com Upgrades TC Energy (NYSE:TRP) to Buy

StockNews.com upgraded shares of TC Energy (NYSE:TRP) (TSE:TRP) from a hold rating to a buy rating in a report released on Wednesday morning.

Other equities analysts have also issued research reports about the stock. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. TD Securities initiated coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada increased their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Finally, BMO Capital Markets upped their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Price Performance

TRP stock opened at $44.94 on Wednesday. The stock has a 50-day simple moving average of $46.48 and a 200-day simple moving average of $46.63. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The firm has a market cap of $46.70 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 4.37 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.54. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period in the prior year, the company posted $1.35 earnings per share. On average, equities analysts predict that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.85 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.57%. TC Energy’s dividend payout ratio (DPR) is presently 71.91%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TRP. Fortitude Family Office LLC bought a new position in TC Energy in the third quarter worth $28,000. Blue Trust Inc. lifted its position in TC Energy by 72.0% in the third 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. SBI Securities Co. Ltd. bought a new position in TC Energy in the fourth quarter worth $31,000. Versant Capital Management Inc bought a new position in TC Energy in the fourth quarter worth $33,000. Finally, Synergy Investment Management LLC bought a new position in shares of TC Energy during the fourth quarter valued at $36,000. 83.13% of the stock is owned by institutional investors.

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.