TC Energy (NYSE:TRP) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of TC Energy (NYSE:TRP) (TSE:TRP) from a hold rating to a sell rating in a report released on Friday.

Several other research analysts have also issued reports on TRP. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research report on Thursday, August 14th. US Capital Advisors cut TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a research note on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Trading Up 1.6%

TRP opened at $55.16 on Friday. TC Energy has a fifty-two week low of $43.51 and a fifty-two week high of $55.34. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The firm has a market capitalization of $57.38 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 5.29 and a beta of 0.75. The company’s 50 day moving average price is $51.37 and its two-hundred day moving average price is $49.62.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period in the prior year, the company posted $0.79 EPS. As a group, research analysts predict that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a dividend of $0.6148 per share. This represents a $2.46 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Monday, September 29th. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio is currently 84.30%.

Hedge Funds Weigh In On TC Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Hilltop National Bank acquired a new stake in shares of TC Energy during the 2nd quarter worth approximately $32,000. Harbor Asset Planning Inc. bought a new stake in TC Energy in the second quarter valued at $43,000. TruNorth Capital Management LLC bought a new stake in TC Energy in the first quarter valued at $45,000. Truvestments Capital LLC acquired a new position in shares of TC Energy during the first quarter valued at about $45,000. Finally, Sagard Holdings Management Inc. bought a new position in shares of TC Energy during the 2nd quarter worth about $46,000. 83.13% of the stock is currently owned by institutional investors.

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.