TC Energy (NYSE:TRP) Lifted to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of TC Energy (NYSE:TRP - Free Report) TSE: TRP from an underweight rating to an overweight rating in a research report released on Friday, Marketbeat.com reports.

TRP has been the topic of several other reports. Veritas upgraded shares of TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. StockNews.com started coverage on TC Energy in a report on Saturday, October 5th. They set a "hold" rating on the stock. UBS Group raised TC Energy from a "neutral" rating to a "buy" rating in a research note on Monday, September 30th. JPMorgan Chase & Co. upgraded TC Energy from a "neutral" rating to an "overweight" rating in a report on Monday, October 14th. Finally, Barclays upgraded TC Energy from an "equal weight" rating to an "overweight" rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $48.50.

TC Energy Trading Up 0.6 %

TRP traded up $0.27 during trading on Friday, reaching $47.26. 1,346,483 shares of the company's stock were exchanged, compared to its average volume of 3,184,181. The company's fifty day moving average price is $46.14 and its 200-day moving average price is $41.44. 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 capitalization of $47.26 billion, a PE ratio of 24.36, a P/E/G ratio of 3.92 and a beta of 0.81. TC Energy has a fifty-two week low of $30.61 and a fifty-two week high of $48.25.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.29. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates 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 firm posted $0.71 earnings per share. As a group, equities analysts forecast that TC Energy will post 3.02 EPS for the current year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a dividend of $0.702 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 annualized dividend and a dividend yield of 5.94%. TC Energy's dividend payout ratio is currently 146.39%.

Institutional Investors Weigh In On TC Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GSB Wealth Management LLC bought a new position in shares of TC Energy during the 3rd quarter worth approximately $244,000. Fortitude Family Office LLC acquired a new position in TC Energy during the third quarter worth $28,000. Asahi Life Asset Management CO. LTD. bought a new position in TC Energy in the third quarter valued at $443,000. Inscription Capital LLC acquired a new stake in TC Energy in the 3rd quarter valued at $237,000. Finally, First Bank & Trust lifted its position in TC Energy by 0.7% during the 3rd quarter. First Bank & Trust now owns 58,049 shares of the pipeline company's stock worth $2,760,000 after buying an additional 427 shares in the last quarter. Institutional investors and hedge funds 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.