TC Energy (NYSE:TRP) Reaches New 12-Month Low at $37.69

TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $37.69 and last traded at $37.94, with a volume of 616264 shares traded. The stock had previously closed at $39.64.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wells Fargo & Company cut shares of TC Energy from an “equal weight” rating to an “underweight” rating in a research report on Friday, December 16th. Raymond James raised shares of TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, January 6th. Credit Suisse Group reduced their target price on shares of TC Energy from C$63.00 to C$60.50 in a report on Thursday, February 2nd. TheStreet cut shares of TC Energy from a “b-” rating to a “c” rating in a report on Tuesday, February 14th. Finally, BMO Capital Markets reduced their target price on shares of TC Energy from C$66.00 to C$64.00 in a report on Thursday, February 2nd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $64.86.

TC Energy Trading Up 0.3 %

The business’s 50-day moving average is $41.41 and its two-hundred day moving average is $43.15. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.38 and a current ratio of 0.43. The stock has a market capitalization of $38.36 billion, a PE ratio of 64.67, a price-to-earnings-growth ratio of 3.05 and a beta of 0.85.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 31st will be given a $0.699 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 7.45%. This is a positive change from TC Energy’s previous quarterly dividend of $0.66. The ex-dividend date is Thursday, March 30th. TC Energy’s dividend payout ratio (DPR) is 458.62%.

Hedge Funds Weigh In On TC Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of TRP. Parallel Advisors LLC boosted its position in shares of TC Energy by 104.6% during the 4th quarter. Parallel Advisors LLC now owns 626 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 320 shares in the last quarter. Parkwood LLC boosted its position in shares of TC Energy by 1.9% during the 2nd quarter. Parkwood LLC now owns 26,025 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 492 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of TC Energy during the 3rd quarter worth $26,000. CoreCap Advisors LLC purchased a new stake in shares of TC Energy during the 4th quarter worth $30,000. Finally, GPS Wealth Strategies Group LLC boosted its position in shares of TC Energy by 53.6% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 777 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 271 shares in the last quarter. 71.86% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Company Profile

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TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Energy Solutions, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.