TC Energy (NYSE:TRP) Earns Hold Rating from Analysts at StockNews.com

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

A number of other equities analysts have also weighed in on TRP. UBS Group upgraded shares of TC Energy from a "neutral" rating to a "buy" rating in a research report on Monday, September 30th. The Goldman Sachs Group increased their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a research report on Monday, October 21st. BMO Capital Markets increased their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. upgraded shares of TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. Finally, Morgan Stanley upgraded shares of TC Energy from an "underweight" rating to an "overweight" rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $55.67.

TC Energy Stock Performance

TRP stock traded up $0.36 during midday trading on Wednesday, reaching $49.02. 2,719,955 shares of the company's stock traded hands, compared to its average volume of 3,035,413. TC Energy has a 52-week low of $31.83 and a 52-week high of $50.37. The stock has a market cap of $50.88 billion, a P/E ratio of 13.58, a PEG ratio of 4.05 and a beta of 0.82. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The stock's 50-day moving average is $47.57 and its 200 day moving average is $43.79.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. As a group, analysts anticipate that TC Energy will post 3 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This is an increase from TC Energy's previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.71%. TC Energy's dividend payout ratio (DPR) is 78.95%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. EdgeRock Capital LLC bought a new stake in shares of TC Energy in the 2nd quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of 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 purchased a new position in shares of TC Energy during the 3rd quarter valued at approximately $28,000. Blue Trust Inc. increased its holdings in shares of 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 purchasing an additional 267 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in TC Energy in the 2nd quarter worth $33,000. Hedge funds and other institutional investors 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.