TC Energy (NYSE:TRP) Raised to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of TC Energy (NYSE:TRP) (TSE:TRP) from an underweight rating to an overweight rating in a research note published on Friday morning, Marketbeat.com reports.

Several other equities analysts have also weighed in on TRP. StockNews.com started coverage on TC Energy in a report on Saturday, October 5th. They set a “hold” rating for the company. Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. The Goldman Sachs Group upped their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $48.50.

TC Energy Trading Up 0.6 %

NYSE TRP opened at $47.26 on Friday. The business’s fifty day moving average is $46.20 and its 200-day moving average is $41.56. 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 stock has a market capitalization of $47.26 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 3.92 and a beta of 0.81. TC Energy has a one year low of $30.61 and a one year high of $48.25.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The business 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 firm posted $0.71 earnings per share. Equities research analysts predict that TC Energy will post 3.02 EPS for the current year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a $0.702 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 5.94%. TC Energy’s dividend payout ratio (DPR) is currently 146.39%.

Institutional Trading of TC Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Research Global Investors boosted its holdings in TC Energy by 2.7% in the 1st quarter. Capital Research Global Investors now owns 57,170,304 shares of the pipeline company’s stock valued at $2,297,701,000 after purchasing an additional 1,492,315 shares during the period. Vanguard Group Inc. boosted its stake in TC Energy by 1.6% during the first quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company’s stock valued at $1,650,505,000 after buying an additional 653,031 shares during the period. Canada Pension Plan Investment Board grew its position in TC Energy by 107.1% during the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock worth $737,609,000 after buying an additional 10,065,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in TC Energy by 94.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock worth $688,534,000 after buying an additional 8,339,800 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in TC Energy by 9.5% in the 1st quarter. TD Asset Management Inc now owns 16,763,150 shares of the pipeline company’s stock worth $674,366,000 after acquiring an additional 1,458,732 shares during the last quarter. 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.