TC Energy (NYSE:TRP) Cut to Hold at TD Securities

TD Securities cut shares of TC Energy (NYSE:TRP) (TSE:TRP) from a buy rating to a hold rating in a research report report published on Tuesday, Marketbeat Ratings reports.

Several other research firms have also commented on TRP. Royal Bank Of Canada increased their target price on shares of TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Canadian Imperial Bank of Commerce raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Citigroup restated a “neutral” rating on shares of TC Energy in a research report on Thursday, November 20th. Finally, BMO Capital Markets raised TC Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, November 7th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $72.50.

TC Energy Trading Up 1.3%

NYSE TRP opened at $62.51 on Tuesday. The stock’s 50-day simple moving average is $56.81 and its two-hundred day simple moving average is $53.90. TC Energy has a twelve month low of $43.59 and a twelve month high of $63.94. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $65.09 billion, a price-to-earnings ratio of 26.90 and a beta of 0.73.

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, beating analysts’ consensus estimates of $0.65 by $0.05. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same period last year, the firm posted $1.05 EPS. Research analysts forecast that TC Energy will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.8775 per share. This represents a $3.51 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.85. TC Energy’s payout ratio is presently 106.90%.

Institutional Investors Weigh In On TC Energy

A number of large investors have recently modified their holdings of 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 worth $87,000 after buying an additional 200 shares during the period. Mesirow Financial Investment Management Inc. grew its stake in TC Energy by 2.0% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock valued at $544,000 after acquiring an additional 200 shares during the period. Gold Investment Management Ltd. increased its holdings in TC Energy by 2.0% in the 4th quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock worth $549,000 after acquiring an additional 200 shares in the last quarter. Kingswood Wealth Advisors LLC raised its position in TC Energy by 2.8% during the third quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock worth $399,000 after acquiring an additional 202 shares during the period. Finally, Kennebec Savings Bank lifted its holdings in TC Energy by 2.1% during the fourth quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock valued at $542,000 after purchasing an additional 203 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

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.