TC Energy (NYSE:TRP) Upgraded at StockNews.com

StockNews.com upgraded shares of TC Energy (NYSE:TRP) (TSE:TRP) from a hold rating to a buy rating in a report published on Wednesday.

Other research analysts have also issued research reports about the company. TD Securities started coverage on TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Royal Bank of Canada raised their price objective on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday. BMO Capital Markets raised their price objective on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Finally, US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, TC Energy currently 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 opened at $44.94 on Wednesday. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37. The firm has a market capitalization of $46.70 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 4.37 and a beta of 0.81. 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 business’s 50 day moving average price is $46.48 and its 200-day moving average price is $46.63.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the firm posted $1.35 EPS. On average, equities research analysts forecast that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

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

Hedge Funds Weigh In On TC Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in TC Energy by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company’s stock worth $2,035,952,000 after acquiring an additional 734,678 shares during the period. FIL Ltd lifted its position in shares of TC Energy by 10.3% in the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company’s stock valued at $1,325,558,000 after acquiring an additional 2,644,627 shares in the last quarter. TD Asset Management Inc. lifted its position in shares of TC Energy by 2.1% in the fourth quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company’s stock valued at $765,627,000 after acquiring an additional 344,485 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of TC Energy by 9.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company’s stock valued at $686,763,000 after acquiring an additional 1,280,000 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of TC Energy in the fourth quarter valued at $428,759,000. 83.13% of the stock is owned by institutional investors and hedge funds.

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.