TC Energy (NYSE:TRP) Upgraded to Strong-Buy at Cibc Captl Mkts

Cibc Captl Mkts upgraded shares of TC Energy (NYSE:TRP) (TSE:TRP) from a hold rating to a strong-buy rating in a research report report published on Thursday,Zacks.com reports.

Other research analysts also recently issued reports about the company. TD Securities reaffirmed a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a research report on Wednesday, October 8th. Barclays reissued an “overweight” rating on shares of TC Energy in a research report on Tuesday, October 14th. Wall Street Zen downgraded shares of TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Finally, US Capital Advisors cut shares of TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

TC Energy Trading Up 3.4%

Shares of TRP stock traded up $1.73 during mid-day trading on Thursday, hitting $52.18. The company’s stock had a trading volume of 3,554,902 shares, compared to its average volume of 2,288,560. The company has a market cap of $54.29 billion, a PE ratio of 17.81, a P/E/G ratio of 4.82 and a beta of 0.73. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The company’s fifty day simple moving average is $52.17 and its 200-day simple moving average is $50.30. TC Energy has a 52 week low of $43.51 and a 52 week high of $55.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $2.63 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same quarter last year, the firm posted $1.03 earnings per share. As a group, equities research analysts expect that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Wednesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio is currently 84.30%.

Hedge Funds Weigh In On TC Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRP. Pacifica Partners Inc. raised its stake in shares of TC Energy by 14.0% during the 3rd quarter. Pacifica Partners Inc. now owns 1,625 shares of the pipeline company’s stock valued at $87,000 after purchasing an additional 200 shares during the period. Kingswood Wealth Advisors LLC grew its holdings in TC Energy by 2.8% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock valued at $399,000 after buying an additional 202 shares in the last quarter. Checchi Capital Advisers LLC increased its position in shares of TC Energy by 3.4% during the third quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock valued at $336,000 after buying an additional 204 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of TC Energy by 2.3% in the second quarter. Park Avenue Securities LLC now owns 9,947 shares of the pipeline company’s stock worth $485,000 after buying an additional 225 shares in the last quarter. Finally, Gold Investment Management Ltd. boosted its position in shares of TC Energy by 2.5% in the second quarter. Gold Investment Management Ltd. now owns 9,656 shares of the pipeline company’s stock valued at $471,000 after acquiring an additional 232 shares during the period. 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.