TC Energy (NYSE:TRP) Cut to Hold at National Bank Financial

National Bank Financial downgraded shares of TC Energy (NYSE:TRP) (TSE:TRP) from a strong-buy rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

Several other research analysts have also recently commented on TRP. Scotiabank restated an “outperform” rating on shares of TC Energy in a research report on Tuesday. Weiss Ratings reissued a “buy (b-)” rating on shares of TC Energy in a research note on Monday, December 29th. Citigroup restated a “neutral” rating on shares of TC Energy in a research note on Thursday, November 20th. TD Securities lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Canadian Imperial Bank of Commerce downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $72.50.

TC Energy Trading Up 1.3%

NYSE TRP opened at $62.51 on Tuesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63. TC Energy has a one year low of $43.59 and a one year high of $63.94. The company has a 50-day simple moving average of $56.81 and a 200-day simple moving average of $53.90. The firm has a market capitalization of $65.09 billion, a PE ratio of 26.90 and a beta of 0.73.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.94 billion. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. During the same quarter last year, the company posted $1.05 earnings per share. On average, equities analysts forecast that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.8775 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.85. The ex-dividend date is Tuesday, March 31st. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. TC Energy’s payout ratio is currently 106.90%.

Institutional Investors Weigh In On TC Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. GQG Partners LLC increased its stake in TC Energy by 586.5% in the 4th quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock worth $890,711,000 after purchasing an additional 13,801,371 shares in the last quarter. Norges Bank acquired a new position in shares of TC Energy in the fourth quarter worth about $583,732,000. Deutsche Bank AG raised its holdings in shares of TC Energy by 63.2% during the fourth quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company’s stock valued at $846,288,000 after acquiring an additional 5,956,263 shares during the period. American Century Companies Inc. lifted its position in shares of TC Energy by 514.5% in the 3rd quarter. American Century Companies Inc. now owns 6,491,799 shares of the pipeline company’s stock valued at $352,976,000 after acquiring an additional 5,435,310 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in TC Energy by 2,573.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 2,680,572 shares of the pipeline company’s stock worth $130,600,000 after purchasing an additional 2,580,300 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.