TC Energy (NYSE:TRP) Stock Rating Upgraded by Veritas

Veritas upgraded shares of TC Energy (NYSE:TRP) (TSE:TRP) to a strong sell rating in a report published on Tuesday, Zacks.com reports.

A number of other analysts also recently weighed in on the company. StockNews.com initiated coverage on TC Energy in a report on Saturday, October 5th. They set a hold rating for the company. UBS Group upgraded TC Energy from a neutral rating to a buy rating in a report on Monday, September 30th. Finally, Barclays upgraded TC Energy from an equal weight rating to an overweight rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $43.50.

TC Energy Stock Down 0.3 %

Shares of TRP opened at $45.07 on Tuesday. TC Energy has a 52 week low of $33.47 and a 52 week high of $48.42. The stock has a market capitalization of $45.07 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 3.66 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The stock has a fifty day moving average of $45.34 and a 200-day moving average of $40.90.

TC Energy (NYSE:TRP) (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. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same period in the prior year, the business posted $0.71 earnings per share. As a group, sell-side analysts anticipate that TC Energy will post 3.08 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be paid a dividend of $0.702 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 annualized dividend and a dividend yield of 6.23%. TC Energy’s payout ratio is currently 146.39%.

Institutional Investors Weigh In On TC Energy

Several large investors have recently modified their holdings of TRP. EdgeRock Capital LLC purchased a new stake in shares of TC Energy during the 2nd quarter worth approximately $25,000. Creekmur Asset Management LLC purchased a new position in TC Energy in the 4th quarter valued at approximately $27,000. Whittier Trust Co. of Nevada Inc. grew its stake in TC Energy by 138.8% in the 2nd 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. Mather Group LLC. purchased a new position in TC Energy in the 2nd quarter valued at approximately $33,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in TC Energy in the 2nd quarter valued at approximately $51,000. Hedge funds and other institutional investors 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.