TC Energy (NYSE:TRP) Rating Lowered to Underperform at Wolfe Research

Wolfe Research cut shares of TC Energy (NYSE:TRP – Get Rating) (TSE:TRP) from a peer perform rating to an underperform rating in a report published on Monday morning, MarketBeat reports. Wolfe Research currently has $57.00 price target on the pipeline company’s stock, up from their prior price target of $53.00.

A number of other research analysts have also recently issued reports on TRP. Credit Suisse Group reiterated a neutral rating on shares of TC Energy in a research report on Tuesday, February 8th. CIBC lowered TC Energy from a sector outperform rating to a neutral rating in a research note on Wednesday, February 16th. US Capital Advisors lowered TC Energy from an overweight rating to a hold rating in a research note on Friday, March 11th. Industrial Alliance Securities raised TC Energy from a hold rating to a buy rating and set a C$74.00 price target on the stock in a research note on Monday, April 4th. Finally, TheStreet raised TC Energy from a c+ rating to a b rating in a research report on Wednesday, January 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $66.75.

Shares of TC Energy stock opened at $57.29 on Monday. The business has a fifty day simple moving average of $54.60 and a two-hundred day simple moving average of $51.28. TC Energy has a 1 year low of $44.77 and a 1 year high of $59.06. The company has a market capitalization of $56.22 billion, a price-to-earnings ratio of 38.19, a P/E/G ratio of 4.31 and a beta of 0.71. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.57 and a quick ratio of 0.51.

TC Energy (NYSE:TRP – Get Rating) (TSE:TRP) last posted its earnings results on Tuesday, February 15th. The pipeline company reported $0.84 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.84. TC Energy had a return on equity of 14.77% and a net margin of 15.09%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the firm earned $0.88 earnings per share. As a group, equities analysts anticipate that TC Energy will post 3.41 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 29th. Investors of record on Thursday, March 31st will be given a dividend of $0.708 per share. This represents a $2.83 annualized dividend and a yield of 4.94%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Wednesday, March 30th. TC Energy’s dividend payout ratio (DPR) is presently 192.00%.

Several hedge funds have recently modified their holdings of the company. Capital Research Global Investors grew its position in shares of TC Energy by 6.5% in the 4th quarter. Capital Research Global Investors now owns 39,679,860 shares of the pipeline company’s stock worth $1,845,421,000 after buying an additional 2,435,667 shares during the last quarter. Capital World Investors grew its position in shares of TC Energy by 53.1% in the 4th quarter. Capital World Investors now owns 33,967,849 shares of the pipeline company’s stock worth $1,579,861,000 after buying an additional 11,784,737 shares during the last quarter. Capital International Investors grew its position in shares of TC Energy by 14.0% in the 4th quarter. Capital International Investors now owns 33,803,122 shares of the pipeline company’s stock worth $1,572,565,000 after buying an additional 4,155,520 shares during the last quarter. Wellington Management Group LLP grew its position in shares of TC Energy by 8.3% in the 3rd quarter. Wellington Management Group LLP now owns 22,804,039 shares of the pipeline company’s stock worth $1,097,267,000 after buying an additional 1,747,817 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of TC Energy by 1.5% in the 4th quarter. Mackenzie Financial Corp now owns 16,536,596 shares of the pipeline company’s stock worth $769,111,000 after buying an additional 241,965 shares during the last quarter. Hedge funds and other institutional investors own 68.61% of the company’s stock.

TC Energy Company Profile (Get Rating)

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 Storage. The company builds and operates 93,300 km network 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.

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