TC Energy (NYSE:TRP) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of TC Energy (NYSE:TRP) (TSE:TRP) from a buy rating to a hold rating in a report published on Thursday.

A number of other equities analysts have also recently commented on the stock. BMO Capital Markets lifted their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. TD Securities initiated coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating for the company. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada upped their price objective on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, TC Energy currently has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Stock Performance

NYSE TRP opened at $45.53 on Thursday. The company has a fifty day moving average of $46.29 and a two-hundred day moving average of $46.71. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37. The company has a market capitalization of $47.32 billion, a PE ratio of 14.05, a P/E/G ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the prior year, the firm earned $1.35 EPS. As a group, analysts expect that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.85 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 7.47%. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s dividend payout ratio is currently 72.53%.

Institutional Investors Weigh In On TC Energy

Institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in shares of TC Energy in the 4th quarter valued at approximately $31,000. Versant Capital Management Inc purchased a new position in TC Energy in the fourth quarter worth $33,000. Synergy Investment Management LLC purchased a new position in TC Energy in the fourth quarter worth $36,000. Point72 DIFC Ltd acquired a new stake in TC Energy in the third quarter valued at $39,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of TC Energy during the 4th quarter worth $41,000. Hedge funds and other 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.