TC Energy (NYSE:TRP) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of TC Energy (NYSE:TRP) (TSE:TRP) to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

Several other brokerages have also weighed in on TRP. Wells Fargo & Company restated an “overweight” rating on shares of TC Energy in a report on Monday. Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. TD Securities lowered TC Energy from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley reiterated an “overweight” rating on shares of TC Energy in a report on Wednesday, January 28th. Finally, Scotiabank reissued an “outperform” rating on shares of TC Energy in a research note on Tuesday. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, TC Energy has a consensus rating of “Hold” and an average price target of $72.50.

TC Energy Trading Up 1.3%

Shares of NYSE TRP opened at $62.51 on Tuesday. TC Energy has a 1-year low of $43.59 and a 1-year high of $63.94. The company has a 50-day moving average of $56.81 and a two-hundred day moving average of $53.90. The company has a market cap of $65.09 billion, a PE ratio of 26.90 and a beta of 0.73. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.94 billion. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.During the same period in the previous year, the business posted $1.05 EPS. As a group, equities analysts expect that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

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

Institutional Investors Weigh In On TC Energy

Several hedge funds have recently bought and sold shares of the company. Pacifica Partners Inc. raised its stake in TC Energy by 14.0% in the 3rd quarter. Pacifica Partners Inc. now owns 1,625 shares of the pipeline company’s stock valued at $87,000 after acquiring an additional 200 shares during the period. Mesirow Financial Investment Management Inc. increased its holdings in shares of TC Energy by 2.0% in the third quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock valued at $544,000 after purchasing an additional 200 shares during the last quarter. Gold Investment Management Ltd. increased its holdings in shares of TC Energy by 2.0% in the fourth quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock valued at $549,000 after purchasing an additional 200 shares during the last quarter. Kingswood Wealth Advisors LLC raised its position in shares of TC Energy by 2.8% in the third quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock valued at $399,000 after purchasing an additional 202 shares during the period. Finally, Kennebec Savings Bank lifted its stake in shares of TC Energy by 2.1% during the 4th quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock worth $542,000 after buying an additional 203 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Company Profile

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.