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

by · The Cerbat Gem

StockNews.com assumed coverage on shares of TC Energy (NYSE:TRP – Free Report) (TSE:TRP) in a research report sent to investors on Friday morning. The brokerage issued a hold rating on the pipeline company’s stock.

Separately, Barclays raised TC Energy from an equal weight rating to an overweight rating in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TC Energy presently has an average rating of Hold and a consensus price target of $43.50.

Read Our Latest Report on TC Energy

TC Energy Price Performance

Shares of TC Energy stock opened at $47.56 on Friday. TC Energy has a 52 week low of $32.51 and a 52 week high of $48.14. 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 stock has a market cap of $49.34 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 3.80 and a beta of 0.81. The company’s 50-day moving average price is $44.86 and its two-hundred day moving average price is $40.66.

TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, sell-side analysts anticipate that TC Energy will post 3.08 EPS 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. Shareholders of record on Friday, September 27th will be issued a $0.702 dividend. This represents a $2.81 annualized dividend and a dividend yield of 5.90%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s payout ratio is 144.85%.

Institutional Investors Weigh In On TC Energy

Large investors have recently made changes to their positions in the company. EdgeRock Capital LLC acquired a new position in TC Energy in the 2nd quarter worth approximately $25,000. Creekmur Asset Management LLC acquired a new stake in shares of TC Energy in the fourth quarter worth $27,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after buying an additional 429 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new position in TC Energy during the fourth quarter valued at $31,000. Finally, Mather Group LLC. purchased a new stake in TC Energy in the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

About TC Energy

(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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