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

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

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

TC Energy Price Performance

Shares of TRP stock opened at $46.07 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The stock’s fifty day simple moving average is $46.57 and its 200 day simple moving average is $47.00. TC Energy has a one year low of $34.95 and a one year high of $50.37. The firm has a market cap of $47.88 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 4.34 and a beta of 0.74.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter last year, the company posted $1.35 EPS. On average, analysts expect that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.85 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 7.38%. The ex-dividend date is Monday, March 31st. TC Energy’s dividend payout ratio (DPR) is currently 72.53%.

Hedge Funds Weigh In On TC Energy

Several hedge funds have recently added to or reduced their stakes in TRP. Vanguard Group Inc. increased its stake in shares of TC Energy by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company’s stock valued at $2,035,952,000 after acquiring an additional 734,678 shares during the last quarter. FIL Ltd increased its stake in TC Energy by 10.3% in the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company’s stock valued at $1,325,558,000 after purchasing an additional 2,644,627 shares in the last quarter. TD Asset Management Inc. increased its stake in TC Energy by 2.1% in the fourth quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company’s stock valued at $765,627,000 after purchasing an additional 344,485 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in TC Energy by 9.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company’s stock worth $686,763,000 after purchasing an additional 1,280,000 shares during the period. Finally, Norges Bank bought a new position in shares of TC Energy during the fourth quarter worth $428,759,000. Institutional investors and hedge funds 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.