TC Energy (NYSE:TRP) Downgraded by TD Securities to Hold

TD Securities downgraded shares of TC Energy (NYSE:TRP) (TSE:TRP) from a buy rating to a hold rating in a report published on Tuesday morning, MarketBeat.com reports.

Several other research firms also recently issued reports on TRP. Citigroup reissued a “neutral” rating on shares of TC Energy in a research report on Thursday, November 20th. BMO Capital Markets raised shares of TC Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, November 7th. Canadian Imperial Bank of Commerce raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of TC Energy in a research report on Monday. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, TC Energy has an average rating of “Moderate Buy” and an average target price of $92.00.

TC Energy Stock Performance

Shares of TRP opened at $62.23 on Tuesday. TC Energy has a one year low of $43.59 and a one year high of $63.94. The company has a market cap of $64.80 billion, a PE ratio of 26.78 and a beta of 0.73. The stock has a 50-day moving average of $56.49 and a 200-day moving average of $53.79. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.63 and a quick ratio of 0.56.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.94 billion. TC Energy had a return on equity of 10.47% and a net margin of 23.04%.During the same quarter in the prior year, the company earned $1.05 earnings per share. On average, equities research analysts predict that TC Energy will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Tuesday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.85. TC Energy’s dividend payout ratio (DPR) is presently 106.90%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Annis Gardner Whiting Capital Advisors LLC bought a new position in TC Energy during the fourth quarter worth about $25,000. Trust Co. of Vermont bought a new position in TC Energy in the 4th quarter worth approximately $28,000. Westside Investment Management Inc. raised its holdings in TC Energy by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 297 shares during the period. McIlrath & Eck LLC purchased a new stake in shares of TC Energy during the fourth quarter worth $32,000. Finally, SWAN Capital LLC purchased a new stake in shares of TC Energy during the third quarter worth $40,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.