TC Energy (NYSE:TRP) Sees Large Volume Increase - What's Next?

Key Points

• TC Energy's trading volume increased by 91% on Friday, with 4,294,059 shares traded, bringing the stock price to $53.91.
• Analysts have mixed views on TC Energy, with ratings ranging from two Strong Buy to one Sell, resulting in a consensus rating of "Moderate Buy" and a target price of $62.00.
• TC Energy announced a quarterly dividend increase to $0.6148, providing investors with an annualized yield of 4.6%.

TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP shares saw an uptick in trading volume on Friday . 4,294,059 shares traded hands during trading, an increase of 91% from the previous session's volume of 2,248,055 shares.The stock last traded at $53.91 and had previously closed at $53.69.

Analyst Ratings Changes

Several research firms have issued reports on TRP. US Capital Advisors cut TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Wall Street Zen raised TC Energy from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Finally, Barclays reissued an "overweight" rating on shares of TC Energy in a research note on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, TC Energy currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Price Performance

The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The stock has a 50 day moving average price of $50.60 and a two-hundred day moving average price of $49.32. The firm has a market capitalization of $55.72 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 5.14 and a beta of 0.77.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.03. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The business had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $2.56 billion. During the same period in the previous year, the firm posted $0.79 earnings per share. As a group, analysts expect that TC Energy Corporation will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be issued a $0.6148 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 4.6%. This is a boost from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date is Monday, September 29th. TC Energy's dividend payout ratio (DPR) is 85.32%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lowe Wealth Advisors LLC purchased a new position in TC Energy in the first quarter valued at $30,000. Hilltop National Bank purchased a new position in TC Energy in the second quarter valued at $32,000. Harbor Asset Planning Inc. purchased a new position in TC Energy in the second quarter valued at $43,000. Sagard Holdings Management Inc. purchased a new position in TC Energy in the second quarter valued at $46,000. Finally, TruNorth Capital Management LLC purchased a new position in TC Energy in the first quarter valued at $45,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

About TC Energy

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 Energy Solutions. The company builds and operates a network of 93,600 kilometers 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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