TC Energy’s (TRP) Buy (B-) Rating Reiterated at Weiss Ratings

Weiss Ratings restated their buy (b-) rating on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a research note released on Friday,Weiss Ratings reports.

A number of other research analysts also recently issued reports on the company. US Capital Advisors downgraded TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. Wall Street Zen cut TC Energy from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Barclays restated an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, TD Securities reaffirmed a “buy” rating on shares of TC Energy in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, TC Energy has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

TC Energy Trading Down 1.2%

TRP opened at $50.38 on Friday. The stock’s fifty day moving average is $52.32 and its two-hundred day moving average is $50.14. The company has a market capitalization of $52.41 billion, a P/E ratio of 17.19, a PEG ratio of 4.82 and a beta of 0.75. TC Energy has a 52 week low of $43.51 and a 52 week high of $55.37. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same period last year, the business posted $0.79 EPS. Analysts forecast that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be given a $0.6148 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.9%. This is a boost from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, September 29th. TC Energy’s dividend payout ratio (DPR) is currently 84.30%.

Institutional Investors Weigh In On TC Energy

A number of large investors have recently made changes to their positions in the stock. First Horizon Corp purchased a new stake in shares of TC Energy in the third quarter valued at approximately $77,000. Forum Financial Management LP purchased a new stake in shares of TC Energy in the third quarter valued at approximately $242,000. Argonautica Private Wealth Management Inc. grew its position in shares of TC Energy by 4.2% in the third quarter. Argonautica Private Wealth Management Inc. now owns 8,687 shares of the pipeline company’s stock valued at $473,000 after purchasing an additional 347 shares in the last quarter. Granite Group Advisors LLC purchased a new stake in shares of TC Energy in the third quarter valued at approximately $219,000. Finally, Kingswood Wealth Advisors LLC grew 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 in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

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.