TC Energy (NYSE:TRP) Earns Hold Rating from Analysts at StockNews.com

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

A number of other brokerages have also recently weighed in on TRP. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Finally, The Goldman Sachs Group boosted their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Two equities research 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. Based on data from MarketBeat, TC Energy presently has an average rating of “Hold” and a consensus target price of $55.67.

TC Energy Price Performance

Shares of TC Energy stock opened at $48.41 on Tuesday. The firm has a fifty day simple moving average of $47.43 and a 200-day simple moving average of $43.48. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy has a 1-year low of $31.83 and a 1-year high of $50.37. The stock has a market capitalization of $50.25 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 4.12 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. On average, sell-side analysts expect that TC Energy will post 2.98 earnings per share for the current 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 $0.822 dividend. This represents a $3.29 annualized dividend and a yield of 6.79%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is 67.31%.

Institutional Investors Weigh In On TC Energy

Several institutional investors and hedge funds have recently bought and sold shares of TRP. Canada Pension Plan Investment Board increased its holdings in TC Energy by 107.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after buying an additional 10,065,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in TC Energy by 156.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after buying an additional 4,126,801 shares during the period. Merewether Investment Management LP bought a new stake in TC Energy in the 2nd quarter valued at $112,618,000. Cardinal Capital Management Inc. grew its holdings in shares of TC Energy by 101.4% in the 2nd quarter. Cardinal Capital Management Inc. now owns 5,068,758 shares of the pipeline company’s stock worth $192,024,000 after purchasing an additional 2,551,926 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of TC Energy by 841.1% in the 2nd quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock worth $77,349,000 after purchasing an additional 1,824,008 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

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.