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

by · The Cerbat Gem

StockNews.com began coverage on shares of TC Energy (NYSE:TRP – Free Report) (TSE:TRP) in a research report released on Saturday morning. The firm issued a hold rating on the pipeline company’s stock.

Several other equities research analysts have also recently issued reports on the company. UBS Group upgraded TC Energy from a neutral rating to a buy rating in a report on Monday, September 30th. Barclays raised TC Energy from an equal weight rating to an overweight rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $43.50.

Read Our Latest Report on TRP

TC Energy Trading Down 0.4 %

Shares of TRP stock opened at $44.69 on Friday. The company has a market capitalization of $46.37 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 3.66 and a beta of 0.81. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The firm has a 50-day moving average price of $45.23 and a 200 day moving average price of $40.84. TC Energy has a twelve month low of $33.47 and a twelve month high of $48.42.

TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last posted its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the business posted $0.71 earnings per share. Research analysts forecast that TC Energy will post 3.08 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a $0.702 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is currently 146.91%.

Hedge Funds Weigh In On TC Energy

Several hedge funds and other institutional investors have recently modified their holdings of TRP. Signaturefd LLC increased its holdings in TC Energy by 1.6% in the 2nd quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock valued at $621,000 after purchasing an additional 261 shares in the last quarter. New Hampshire Trust boosted its holdings in TC Energy by 3.8% in the 1st quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock worth $292,000 after acquiring an additional 269 shares during the period. Windsor Advisory Group LLC raised its stake in shares of TC Energy by 2.5% during the first quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company’s stock valued at $516,000 after purchasing an additional 316 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in shares of TC Energy by 2.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 15,005 shares of the pipeline company’s stock worth $604,000 after purchasing an additional 332 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its stake in shares of TC Energy by 1.9% in the first quarter. Mount Yale Investment Advisors LLC now owns 19,873 shares of the pipeline company’s stock valued at $799,000 after purchasing an additional 364 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Company Profile

(Get Free Report)

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.

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