TC Energy (NYSE:TRP) Earns Hold Rating from Analysts at StockNews.com

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

Other equities analysts also recently issued research reports about the company. Raymond James raised TC Energy from a market perform rating to an outperform rating in a research report on Friday, January 6th. BMO Capital Markets decreased their target price on TC Energy from C$66.00 to C$64.00 in a research report on Thursday, February 2nd. TD Securities decreased their target price on TC Energy from C$71.00 to C$68.00 in a research report on Wednesday, February 15th. Wells Fargo & Company downgraded TC Energy from an equal weight rating to an underweight rating in a research report on Friday, December 16th. Finally, Scotiabank decreased their target price on 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 assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $64.86.

TC Energy Price Performance

NYSE:TRP opened at $37.18 on Thursday. The company has a quick ratio of 0.38, a current ratio of 0.43 and a debt-to-equity ratio of 1.59. The stock’s 50 day moving average price is $41.35 and its two-hundred day moving average price is $43.01. The firm has a market capitalization of $38.02 billion, a price-to-earnings ratio of 64.10, a P/E/G ratio of 2.95 and a beta of 0.85. TC Energy has a 12-month low of $36.79 and a 12-month high of $59.38.

TC Energy Increases Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TRP. Norges Bank bought a new position in shares of TC Energy in the 4th quarter valued at $519,894,000. National Bank of Canada FI raised its position in TC Energy by 527.8% during the 4th quarter. National Bank of Canada FI now owns 13,756,448 shares of the pipeline company’s stock worth $548,242,000 after purchasing an additional 11,565,402 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in TC Energy by 60.8% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 30,036,811 shares of the pipeline company’s stock worth $1,210,184,000 after purchasing an additional 11,355,601 shares during the last quarter. Murchinson Ltd. bought a new position in TC Energy during the 4th quarter worth $610,033,000. Finally, Canada Pension Plan Investment Board raised its position in TC Energy by 123.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 15,084,085 shares of the pipeline company’s stock worth $610,806,000 after purchasing an additional 8,329,085 shares during the last quarter. 71.86% of the stock is currently owned by institutional investors.

About TC Energy

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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.