TC Energy (NYSE:TRP) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of TC Energy (NYSE:TRP) (TSE:TRP) from a neutral rating to an overweight rating in a research note released on Monday, MarketBeat.com reports.

A number of other brokerages have also recently issued reports on TRP. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Finally, StockNews.com initiated coverage on shares of TC Energy in a report on Saturday, October 5th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and an average target price of $43.50.

TC Energy Stock Performance

Shares of TRP stock opened at $47.34 on Monday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The firm has a market cap of $49.13 billion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 3.84 and a beta of 0.81. TC Energy has a 52 week low of $30.48 and a 52 week high of $47.69. The firm’s 50-day simple moving average is $45.69 and its two-hundred day simple moving average is $41.12.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. As a group, equities analysts forecast that TC Energy will post 3.05 earnings per share for the current year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a $0.702 dividend. This represents a $2.81 annualized dividend and a yield of 5.93%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s payout ratio is 116.80%.

Institutional Investors Weigh In On TC Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. EdgeRock Capital LLC purchased a new position in TC Energy in the 2nd quarter worth approximately $25,000. Creekmur Asset Management LLC purchased a new stake in TC Energy during the fourth quarter valued at about $27,000. Whittier Trust Co. of Nevada Inc. lifted its stake in TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 429 shares during the last quarter. Mather Group LLC. purchased a new position in shares of TC Energy in the 2nd quarter worth about $33,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of TC Energy during the 2nd quarter valued at about $51,000. 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.