TC Energy (NYSE:TRP) Now Covered by Analysts at TD Securities

TD Securities started coverage on shares of TC Energy (NYSE:TRP - Free Report) TSE: TRP in a report issued on Wednesday morning, Marketbeat reports. The firm issued a buy rating on the pipeline company's stock.

A number of other research firms have also recently commented on TRP. UBS Group raised shares of TC Energy from a "neutral" rating to a "buy" rating in a research note on Monday, September 30th. The Goldman Sachs Group upped 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. Morgan Stanley raised TC Energy from an "underweight" rating to an "overweight" rating in a research note on Friday, October 25th. BMO Capital Markets lifted their price target on TC Energy from $66.00 to $70.00 and gave the stock a "market perform" rating in a research note on Wednesday, November 20th. Finally, Veritas upgraded TC Energy to a "strong sell" rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $55.67.

TC Energy Price Performance

NYSE:TRP traded up $0.50 during trading hours on Wednesday, hitting $46.87. 3,504,112 shares of the company's stock traded hands, compared to its average volume of 2,170,435. TC Energy has a 52 week low of $31.83 and a 52 week high of $50.37. The business's fifty day simple moving average is $47.71 and its two-hundred day simple moving average is $45.48. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The firm has a market cap of $48.69 billion, a P/E ratio of 12.98, a P/E/G ratio of 3.88 and a beta of 0.82.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The firm had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.83 billion. On average, research analysts anticipate that TC Energy will post 3 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 7.02%. This is an increase from TC Energy's previous quarterly dividend of $0.70. TC Energy's payout ratio is currently 63.16%.

Institutional Investors Weigh In On TC Energy

Institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors increased its stake in TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company's stock worth $871,000 after purchasing an additional 242 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of TC Energy in the third quarter worth approximately $3,771,000. Harvest Portfolios Group Inc. increased its stake in shares of TC Energy by 107.7% in the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company's stock worth $10,743,000 after buying an additional 117,176 shares during the period. Barclays PLC raised its holdings in TC Energy by 19.9% during the 3rd quarter. Barclays PLC now owns 528,528 shares of the pipeline company's stock valued at $25,132,000 after buying an additional 87,885 shares during the last quarter. Finally, Partners Group Holding AG boosted its position in TC Energy by 25.8% during the 3rd quarter. Partners Group Holding AG now owns 845,335 shares of the pipeline company's stock valued at $40,196,000 after buying an additional 173,250 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

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.