TC Energy (NYSE:TRP) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of TC Energy (NYSE:TRP – Get Rating) (TSE:TRP) in a research report report published on Thursday. The firm issued a hold rating on the pipeline company’s stock.

A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada cut their price target on TC Energy from C$73.00 to C$65.00 in a research note on Thursday, February 2nd. Raymond James upgraded TC Energy from a market perform rating to an outperform rating in a research note on Friday, January 6th. BMO Capital Markets cut their price target on TC Energy from C$66.00 to C$64.00 in a research note on Thursday, February 2nd. Credit Suisse Group dropped their target price on shares of TC Energy from C$63.00 to C$60.50 in a research report on Thursday, February 2nd. Finally, Scotiabank dropped their target price on shares of TC Energy from C$67.00 to C$66.00 in a research report on Thursday, February 2nd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $64.86.

TC Energy Price Performance

TRP stock opened at $37.18 on Thursday. The company has a market capitalization of $38.02 billion, a P/E ratio of 64.10, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.38 and a current ratio of 0.43. TC Energy has a 52-week low of $36.79 and a 52-week high of $59.38. The business has a 50-day simple moving average of $41.35 and a two-hundred day simple moving average of $43.01.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 31st will be issued a $0.699 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 7.52%. The ex-dividend date of this dividend is Thursday, March 30th. This is a boost from TC Energy’s previous quarterly dividend of $0.66. TC Energy’s payout ratio is 458.62%.

Institutional Investors Weigh In On TC Energy

Hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. raised its holdings in TC Energy by 11.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,584 shares of the pipeline company’s stock valued at $141,000 after acquiring an additional 380 shares during the period. Natixis raised its holdings in TC Energy by 53.0% during the 4th quarter. Natixis now owns 67,499 shares of the pipeline company’s stock valued at $2,691,000 after acquiring an additional 23,374 shares during the period. Truist Financial Corp raised its holdings in TC Energy by 2.6% during the 4th quarter. Truist Financial Corp now owns 302,562 shares of the pipeline company’s stock valued at $12,060,000 after acquiring an additional 7,719 shares during the period. Alliancebernstein L.P. raised its holdings in TC Energy by 9.0% during the 4th quarter. Alliancebernstein L.P. now owns 115,846 shares of the pipeline company’s stock valued at $4,618,000 after acquiring an additional 9,564 shares during the period. Finally, Resurgent Financial Advisors LLC bought a new stake in TC Energy during the 4th quarter valued at $148,000. Institutional investors own 71.86% of the company’s stock.

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.