TC Energy (NYSE:TRP) Upgraded at Veritas

Veritas upgraded shares of TC Energy (NYSE:TRP) (TSE:TRP) from a strong sell rating to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

A number of other equities analysts also recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday. The Goldman Sachs Group upped their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. TD Securities initiated coverage on TC Energy in a report on Wednesday, January 15th. They set a “buy” rating for the company. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Finally, US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, TC Energy has an average rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Trading Down 1.1 %

Shares of NYSE TRP opened at $45.89 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy has a one year low of $31.83 and a one year high of $50.37. The business has a 50-day moving average price of $46.53 and a two-hundred day moving average price of $46.62. The firm has a market capitalization of $47.68 billion, a PE ratio of 14.16, a PEG ratio of 4.43 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.51 by $0.54. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 11.95%. During the same period last year, the company posted $1.35 earnings per share. As a group, analysts predict that TC Energy will post 2.62 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.85 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 7.41%. The ex-dividend date is Monday, March 31st. TC Energy’s payout ratio is currently 70.68%.

Institutional Investors Weigh In On TC Energy

Hedge funds have recently modified their holdings of the business. Addenda Capital Inc. raised its stake in TC Energy by 4.4% during the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock valued at $48,135,000 after purchasing an additional 43,639 shares during the last quarter. Captrust Financial Advisors raised its position in shares of TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after buying an additional 242 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of TC Energy by 44.8% in the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock valued at $1,115,000 after buying an additional 7,412 shares during the period. Public Employees Retirement System of Ohio bought a new position in TC Energy during the third quarter valued at about $3,771,000. Finally, Harvest Portfolios Group Inc. raised its holdings in TC Energy by 107.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after acquiring an additional 117,176 shares in the last quarter. 83.13% of the stock is owned by institutional investors.

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.