TC Energy (NYSE:TRP) Rating Increased to Sector Outperform at CIBC

CIBC upgraded shares of TC Energy (NYSE:TRP - Free Report) TSE: TRP from a neutral rating to a sector outperform rating in a report released on Friday, Marketbeat Ratings reports.

A number of other analysts have also commented on TRP. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. Citigroup started coverage on shares of TC Energy in a report on Friday, April 4th. They set a "neutral" rating on the stock. TD Securities began coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a "buy" rating for the company. Finally, StockNews.com cut shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, TC Energy presently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Stock Down 0.2 %

Shares of NYSE:TRP traded down $0.09 on Friday, hitting $50.89. 1,319,666 shares of the company traded hands, compared to its average volume of 2,541,994. The stock has a 50 day simple moving average of $47.57 and a 200-day simple moving average of $47.30. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The company has a market cap of $52.90 billion, a PE ratio of 15.71, a PEG ratio of 4.34 and a beta of 0.78. TC Energy has a 52 week low of $37.07 and a 52 week high of $51.25.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the prior year, the business posted $1.02 earnings per share. As a group, research analysts expect that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.6142 per share. This represents a $2.46 annualized dividend and a yield of 4.83%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio is presently 77.89%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Lowe Wealth Advisors LLC purchased a new position in TC Energy during the first quarter valued at approximately $30,000. SBI Securities Co. Ltd. bought a new position in TC Energy in the 4th quarter worth $31,000. Versant Capital Management Inc purchased a new stake in TC Energy in the 4th quarter worth $33,000. Synergy Investment Management LLC bought a new stake in TC Energy during the fourth quarter valued at about $36,000. Finally, Millstone Evans Group LLC bought a new stake in TC Energy during the fourth quarter valued at about $41,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Company Profile

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.