TC Energy (NYSE:TRP) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a report issued on Saturday morning. The brokerage issued a hold rating on the pipeline company’s stock.

TRP has been the topic of several other research reports. Barclays raised TC Energy from an equal weight rating to an overweight rating in a report on Wednesday, July 17th. UBS Group raised shares of TC Energy from a neutral rating to a buy rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, TC Energy presently has an average rating of Hold and a consensus price target of $43.50.

TC Energy Trading Down 0.4 %

NYSE TRP opened at $44.69 on Friday. The company’s fifty day moving average price is $45.23 and its two-hundred day moving average price is $40.84. TC Energy has a 12 month low of $33.47 and a 12 month high of $48.42. The company has a market capitalization of $46.37 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 3.66 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the firm posted $0.71 EPS. As a group, research analysts predict that TC Energy will post 3.08 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a dividend of $0.702 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a yield of 6.28%. TC Energy’s dividend payout ratio (DPR) is presently 146.91%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. EdgeRock Capital LLC acquired a new stake in TC Energy in the second quarter worth about $25,000. Creekmur Asset Management LLC acquired a new position in shares of TC Energy during the fourth quarter valued at approximately $27,000. Whittier Trust Co. of Nevada Inc. raised its holdings in 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 worth $28,000 after purchasing an additional 429 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in TC Energy in the fourth quarter worth approximately $31,000. Finally, Mather Group LLC. bought a new position in TC Energy during the 2nd quarter valued at $33,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Company Profile

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.