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

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

Separately, Barclays upgraded TC Energy from an equal weight rating to an overweight rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, TC Energy currently has a consensus rating of Hold and a consensus target price of $43.50.

TC Energy Stock Performance

Shares of TRP opened at $46.18 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. The business has a 50-day simple moving average of $44.02 and a two-hundred day simple moving average of $40.37. The stock has a market cap of $46.18 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 3.81 and a beta of 0.81. TC Energy has a 52 week low of $32.51 and a 52 week high of $47.38.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The business had revenue of $2.99 billion during 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 in the prior year, the business posted $0.71 earnings per share. On average, analysts expect that TC Energy will post 3.06 EPS for the current year.

TC Energy Cuts Dividend

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

Institutional Trading of TC Energy

Several institutional investors have recently made changes to their positions in TRP. Capital Research Global Investors boosted its stake in TC Energy by 2.7% during the first quarter. Capital Research Global Investors now owns 57,170,304 shares of the pipeline company’s stock valued at $2,297,701,000 after buying an additional 1,492,315 shares during the last quarter. Capital International Investors boosted its stake in TC Energy by 11.8% during the fourth quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock valued at $2,155,419,000 after buying an additional 5,822,056 shares during the last quarter. Vanguard Group Inc. boosted its stake in TC Energy by 1.6% during the first quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company’s stock valued at $1,650,505,000 after buying an additional 653,031 shares during the last quarter. Capital World Investors boosted its stake in TC Energy by 0.5% during the fourth quarter. Capital World Investors now owns 37,412,046 shares of the pipeline company’s stock valued at $1,461,583,000 after buying an additional 181,091 shares during the last quarter. Finally, Bank of Nova Scotia boosted its stake in TC Energy by 13.7% during the fourth quarter. Bank of Nova Scotia now owns 28,980,334 shares of the pipeline company’s stock valued at $1,132,854,000 after buying an additional 3,497,666 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

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.