TC Energy (NYSE:TRP) Upgraded at Wall Street Zen

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

A number of other equities analysts also recently weighed in on TRP. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Citigroup restated a “neutral” rating on shares of TC Energy in a report on Thursday, November 20th. TD Securities reiterated a “buy” rating on shares of TC Energy in a report on Friday, October 17th. BMO Capital Markets raised TC Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, November 7th. Finally, Royal Bank Of Canada upped their price target on TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $84.00.

TC Energy Stock Up 3.4%

Shares of NYSE:TRP opened at $63.52 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.60. The firm has a market cap of $66.13 billion, a price-to-earnings ratio of 27.33 and a beta of 0.73. The stock’s 50-day moving average price is $56.33 and its two-hundred day moving average price is $53.69. TC Energy has a 12-month low of $43.59 and a 12-month high of $63.94.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. TC Energy had a net margin of 23.04% and a return on equity of 10.47%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the firm posted $1.05 EPS. On average, research analysts forecast that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. TC Energy’s dividend payout ratio (DPR) is currently 106.90%.

Hedge Funds Weigh In On TC Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in TC Energy in the fourth quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new position in shares of TC Energy in the fourth quarter valued at $28,000. Westside Investment Management Inc. grew its holdings in TC Energy by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 297 shares in the last quarter. McIlrath & Eck LLC purchased a new stake in TC Energy during the 4th quarter worth $32,000. Finally, SWAN Capital LLC acquired a new position in TC Energy in the 3rd quarter worth $40,000. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Company Profile

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.