TC Energy (NYSE:TRP) Upgraded at Veritas

Veritas upgraded shares of TC Energy (NYSE:TRP) (TSE:TRP) from a strong sell rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

Several other brokerages have also recently issued reports on TRP. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. The Goldman Sachs Group boosted their price target on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Royal Bank of Canada boosted their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Performance

Shares of NYSE:TRP opened at $45.52 on Tuesday. The company has a market cap of $47.30 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 4.43 and a beta of 0.81. The company has a 50-day moving average price of $46.51 and a 200-day moving average price of $46.61. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. TC Energy has a 12 month low of $31.83 and a 12 month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.51 by $0.54. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 11.95%. During the same period in the prior year, the firm posted $1.35 earnings per share. As a group, equities analysts anticipate that TC Energy will post 2.62 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 7.47%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is 70.68%.

Institutional Investors Weigh In On TC Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fortitude Family Office LLC purchased a new stake in shares of TC Energy during the third quarter valued at approximately $28,000. Blue Trust Inc. grew its holdings in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after buying an additional 267 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of TC Energy during the fourth quarter valued at approximately $31,000. Versant Capital Management Inc purchased a new stake in shares of TC Energy during the fourth quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC purchased a new stake in shares of TC Energy during the fourth quarter valued at approximately $36,000. Hedge funds and other 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.