TC Energy (NYSE:TRP) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of TC Energy (NYSE:TRP - Free Report) TSE: TRP from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

TRP has been the subject of a number of other reports. Royal Bank of Canada lifted their price objective on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research note on Tuesday. Morgan Stanley raised TC Energy from an "underweight" rating to an "overweight" rating in a research note on Friday, October 25th. US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. BMO Capital Markets lifted their price objective 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, TD Securities initiated coverage on TC Energy in a research note on Wednesday, January 15th. They set a "buy" rating for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, TC Energy has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Trading Down 1.3 %

Shares of NYSE TRP traded down $0.60 during midday trading on Wednesday, hitting $44.94. The stock had a trading volume of 2,068,058 shares, compared to its average volume of 2,094,274. The company's 50-day simple moving average is $46.51 and its 200 day simple moving average is $46.61. The firm has a market cap of $46.70 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 4.37 and a beta of 0.81. TC Energy has a fifty-two week low of $31.83 and a fifty-two 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.

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

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.85 dividend. This is an increase from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.57%. TC Energy's dividend payout ratio is presently 71.91%.

Hedge Funds Weigh In On TC Energy

Several institutional investors and hedge funds have recently made changes to their positions in TRP. Fortitude Family Office LLC acquired a new position in shares of TC Energy in the third quarter valued at approximately $28,000. Blue Trust Inc. grew its position in shares of TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock valued at $30,000 after purchasing an additional 267 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of TC Energy in the fourth quarter valued at approximately $31,000. Versant Capital Management Inc acquired a new position in shares of TC Energy in the fourth quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC acquired a new position in shares of TC Energy in the fourth quarter valued at approximately $36,000. 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.