StockNews.com Begins Coverage on TC Energy (NYSE:TRP)

StockNews.com started coverage on shares of TC Energy (NYSE:TRP - Free Report) TSE: TRP in a research report sent to investors on Tuesday morning. The brokerage issued a hold rating on the pipeline company's stock.

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

TC Energy Price Performance

TRP traded down $0.32 during trading hours on Tuesday, hitting $48.74. The company's stock had a trading volume of 1,535,745 shares, compared to its average volume of 3,055,435. The business's 50-day moving average price is $47.27 and its 200-day moving average price is $43.34. TC Energy has a 12 month low of $31.83 and a 12 month high of $50.37. The stock has a market cap of $50.59 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 4.19 and a beta of 0.81. 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 (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.83 billion. Sell-side analysts expect that TC Energy will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. This is a positive change from TC Energy's previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.75%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy's dividend payout ratio (DPR) is currently 78.95%.

Institutional Investors Weigh In On TC Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. EdgeRock Capital LLC bought a new stake in TC Energy during the 2nd quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. raised its position in TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company's stock valued at $28,000 after purchasing an additional 429 shares in the last quarter. Fortitude Family Office LLC bought a new stake in TC Energy during the 3rd quarter valued at $28,000. Blue Trust Inc. boosted its position in TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock valued at $30,000 after acquiring an additional 267 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in shares of TC Energy in the 2nd quarter valued at $33,000. 83.13% of the stock is owned by institutional investors.

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.