TC Energy (NYSE:TRP) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of TC Energy (NYSE:TRP) (TSE:TRP) from a sell rating to a hold rating in a report issued on Saturday.

Other analysts also recently issued reports about the stock. Barclays restated an “overweight” rating on shares of TC Energy in a report on Tuesday, October 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of TC Energy in a research note on Monday, December 22nd. Royal Bank Of Canada upped their price objective on TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Cibc World Mkts lowered TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, BMO Capital Markets raised TC Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

TC Energy Stock Performance

NYSE:TRP opened at $55.83 on Friday. The company has a market cap of $58.10 billion, a price-to-earnings ratio of 24.06 and a beta of 0.70. TC Energy has a 1 year low of $43.51 and a 1 year high of $56.08. The stock’s 50 day simple moving average is $53.31 and its two-hundred day simple moving average is $51.37. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.63 and a quick ratio of 0.56.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.56. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same period last year, the firm posted $1.03 earnings per share. As a group, equities analysts anticipate that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Wednesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio (DPR) is presently 106.47%.

Institutional Trading of TC Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of TC Energy by 2.0% in the third quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company’s stock worth $2,545,777,000 after purchasing an additional 914,168 shares during the last quarter. Capital Research Global Investors lifted its holdings in TC Energy by 2.5% during the 3rd quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock valued at $2,282,469,000 after buying an additional 1,041,864 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in TC Energy by 5.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 20,986,748 shares of the pipeline company’s stock valued at $1,025,220,000 after buying an additional 1,178,190 shares during the period. TD Asset Management Inc grew its stake in TC Energy by 2.9% in the 3rd quarter. TD Asset Management Inc now owns 19,624,247 shares of the pipeline company’s stock worth $1,067,246,000 after acquiring an additional 550,066 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in TC Energy by 2,565.1% in the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock worth $769,815,000 after purchasing an additional 15,694,336 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.