TC Energy (NYSE:TRP) Earns Hold Rating from Analysts at StockNews.com

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

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

TC Energy Stock Performance

Shares of NYSE:TRP opened at $44.87 on Friday. The business’s 50 day moving average price is $45.17 and its 200-day moving average price is $40.81. TC Energy has a 1 year low of $33.47 and a 1 year high of $48.42. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The firm has a market capitalization of $44.87 billion, a PE ratio of 23.02, a P/E/G ratio of 3.57 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. As a group, equities research analysts expect 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. Shareholders of record on Friday, September 27th will be paid a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio is currently 146.39%.

Institutional Investors Weigh In On TC Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new stake in shares of TC Energy during the 2nd quarter worth about $742,000. Souders Financial Advisors lifted its position in TC Energy by 3.3% during the second quarter. Souders Financial Advisors now owns 85,421 shares of the pipeline company’s stock valued at $3,237,000 after buying an additional 2,721 shares in the last quarter. Cetera Investment Advisers grew its stake in TC Energy by 5.2% during the second quarter. Cetera Investment Advisers now owns 103,894 shares of the pipeline company’s stock worth $3,938,000 after buying an additional 5,165 shares during the period. NewEdge Advisors LLC increased its position in shares of TC Energy by 9.5% in the second quarter. NewEdge Advisors LLC now owns 46,687 shares of the pipeline company’s stock worth $1,769,000 after acquiring an additional 4,068 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. increased its position in shares of TC Energy by 16.6% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,033,500 shares of the pipeline company’s stock worth $39,170,000 after acquiring an additional 147,500 shares in the last quarter. 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.