TC Energy (NYSE:TRP) Trading Down 2.3%

TC Energy Co. (NYSE:TRP) (TSE:TRP)’s share price traded down 2.3% during mid-day trading on Friday . The company traded as low as $37.65 and last traded at $37.65. 56,281 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 2,979,515 shares. The stock had previously closed at $38.55.

Wall Street Analyst Weigh In

Separately, TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $48.83.

TC Energy Stock Performance

The stock has a market cap of $37.90 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 3.20 and a beta of 0.79. The company’s 50 day simple moving average is $38.10 and its 200 day simple moving average is $38.77. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.85 and a current ratio of 0.94.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.12 billion. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. On average, equities research analysts anticipate that TC Energy Co. will post 3.01 earnings per share for the current year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.49%. The ex-dividend date of this dividend is Friday, June 28th. TC Energy’s dividend payout ratio is presently 145.88%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TRP. EdgeRock Capital LLC acquired a new stake in TC Energy in the 4th quarter valued at about $25,000. Bruce G. Allen Investments LLC bought a new stake in TC Energy during the fourth quarter worth approximately $26,000. Creekmur Asset Management LLC acquired a new position in TC Energy in the fourth quarter worth approximately $27,000. Glassman Wealth Services increased its holdings in shares of TC Energy by 61.0% in the fourth quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after buying an additional 275 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of TC Energy during the 4th quarter valued at $31,000. Institutional investors own 83.13% of the company’s stock.

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.