StockNews.com Downgrades TC Energy (NYSE:TRP) to Hold

StockNews.com cut shares of TC Energy (NYSE:TRP - Free Report) TSE: TRP from a buy rating to a hold rating in a report issued on Thursday.

A number of other equities research analysts have also issued reports on the stock. BMO Capital Markets lifted their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a research note on Wednesday, November 20th. Veritas raised shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Royal Bank of Canada boosted their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. TD Securities began coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $62.00.

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TC Energy Trading Up 0.8 %

NYSE TRP traded up $0.37 on Thursday, hitting $45.86. 1,374,582 shares of the stock were exchanged, compared to its average volume of 2,173,636. TC Energy has a 52-week low of $31.83 and a 52-week high of $50.37. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The company has a market capitalization of $47.66 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 4.34 and a beta of 0.83. The company's 50-day moving average price is $46.28 and its two-hundred day moving average price is $46.74.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The firm had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.42 billion. During the same period in the previous year, the company posted $1.35 EPS. Research analysts predict that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 7.41%. This is a boost from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy's dividend payout ratio is currently 72.53%.

Institutional Trading of TC Energy

Large investors have recently added to or reduced their stakes in the company. Addenda Capital Inc. grew its stake in TC Energy by 4.4% during the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company's stock worth $48,135,000 after buying an additional 43,639 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company's stock worth $871,000 after purchasing an additional 242 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of TC Energy by 44.8% during the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company's stock worth $1,115,000 after purchasing an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of TC Energy during the third quarter worth approximately $3,771,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of TC Energy by 7.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,034,698 shares of the pipeline company's stock worth $48,144,000 after purchasing an additional 71,955 shares in the last quarter. 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.