TC Energy (NYSE:TRP) Upgraded to Overweight by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of TC Energy (NYSE:TRP) (TSE:TRP) from a neutral rating to an overweight rating in a report published on Monday, MarketBeat Ratings reports.

Other equities research analysts also recently issued reports about the stock. Veritas upgraded shares of TC Energy to a strong sell rating in a research note on Tuesday, October 8th. StockNews.com began coverage on shares of TC Energy in a research note on Saturday, October 5th. They issued a hold rating on the stock. UBS Group upgraded shares of TC Energy from a neutral rating to a buy rating in a research note on Monday, September 30th. Finally, Barclays upgraded shares of TC Energy from an equal weight rating to an overweight rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, TC Energy presently has an average rating of Hold and an average price target of $43.50.

TC Energy Trading Up 2.4 %

TRP stock opened at $46.79 on Monday. The company has a market capitalization of $46.79 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 3.68 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. TC Energy has a 52 week low of $33.47 and a 52 week high of $48.42. The company’s 50-day simple moving average is $45.53 and its 200 day simple moving average is $41.03.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same period in the prior year, the company posted $0.71 earnings per share. As a group, sell-side analysts anticipate that TC Energy will post 3.06 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a $0.702 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a yield of 6.00%. TC Energy’s dividend payout ratio (DPR) is presently 146.39%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TRP. EdgeRock Capital LLC bought a new position in TC Energy in the 2nd quarter valued at approximately $25,000. Creekmur Asset Management LLC bought a new position in TC Energy in the 4th quarter valued at approximately $27,000. Whittier Trust Co. of Nevada Inc. raised its holdings in TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 429 shares during the last quarter. Mather Group LLC. bought a new position in TC Energy during the 2nd quarter worth approximately $33,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in TC Energy during the 2nd quarter worth approximately $51,000. Institutional investors own 83.13% of the company’s stock.

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.