TC Energy (NYSE:TRP) Earns Neutral Rating from Analysts at Citigroup

Citigroup started coverage on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a research report released on Friday, MarketBeat reports. The brokerage issued a neutral rating on the pipeline company’s stock.

Other equities analysts have also issued reports about the company. Royal Bank of Canada boosted their price objective on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. TD Securities assumed coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a “buy” rating on the stock. StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, TC Energy currently has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Trading Down 5.4 %

TRP opened at $46.07 on Friday. The firm’s fifty day moving average is $46.57 and its two-hundred day moving average is $46.99. The firm has a market cap of $47.88 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74. TC Energy has a twelve month low of $34.95 and a twelve month high of $50.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period in the previous year, the company posted $1.35 earnings per share. Equities research analysts anticipate that TC Energy will post 2.63 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. Stockholders of record on Monday, March 31st will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.38%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s dividend payout ratio is currently 72.53%.

Institutional Trading of TC Energy

A number of hedge funds and other institutional investors have recently modified their holdings of TRP. Addenda Capital Inc. grew its stake in TC Energy by 4.4% in the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock valued at $48,135,000 after purchasing an additional 43,639 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of TC Energy by 1.3% in the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after buying an additional 242 shares in the last quarter. Ritholtz Wealth Management grew its stake in shares of TC Energy by 44.8% in the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock valued at $1,115,000 after buying an additional 7,412 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in TC Energy by 7.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company’s stock worth $10,463,000 after buying an additional 16,334 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in TC Energy during the third quarter worth $3,771,000. Institutional investors and hedge funds 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.