TC Energy (NYSE:TRP) Upgraded to Buy by UBS Group

UBS Group upgraded shares of TC Energy ( NYSE:TRP – Free Report ) (TSE:TRP) from a neutral rating to a buy rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports. Several other equities analysts have also recently weighed in on TRP. StockNews.

com started coverage on shares of TC Energy in a research note on Friday. They set a hold rating for the company. Barclays raised shares of TC Energy from an equal weight rating to an overweight rating in a research note on Wednesday, July 17th.



One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $43.50.

View Our Latest Analysis on TRP TC Energy Stock Performance TC Energy ( NYSE:TRP – Get Free Report ) (TSE:TRP) last posted its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.

65 by $0.29. The business had revenue of $2.

99 billion during the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a return on equity of 16.

97% and a net margin of 21.31%. During the same period in the prior year, the business earned $0.

71 EPS. As a group, sell-side analysts expect that TC Energy will post 3.08 earnings per share for the current year.

TC Energy Cuts Dividend The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a $0.702 dividend.

This represents a $2.81 annualized dividend and a dividend yield of 5.90%.

The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is presently 144.85%.

Institutional Investors Weigh In On TC Energy Several large investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new stake in shares of TC Energy in the 2nd quarter valued at approximately $742,000. Souders Financial Advisors lifted its holdings in TC Energy by 3.

3% during the 2nd quarter. Souders Financial Advisors now owns 85,421 shares of the pipeline company’s stock valued at $3,237,000 after purchasing an additional 2,721 shares during the last quarter. Cetera Investment Advisers lifted its holdings in TC Energy by 5.

2% during the 2nd quarter. Cetera Investment Advisers now owns 103,894 shares of the pipeline company’s stock valued at $3,938,000 after purchasing an additional 5,165 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in TC Energy by 9.

5% during the 2nd quarter. NewEdge Advisors LLC now owns 46,687 shares of the pipeline company’s stock valued at $1,769,000 after purchasing an additional 4,068 shares during the last quarter. Finally, Duff & Phelps Investment Management Co.

lifted its holdings in TC Energy by 16.6% during the 2nd quarter. Duff & Phelps Investment Management Co.

now owns 1,033,500 shares of the pipeline company’s stock valued at $39,170,000 after purchasing an additional 147,500 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

About TC Energy ( Get Free Report ) 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. Featured Stories Receive News & Ratings for TC Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TC Energy and related companies with MarketBeat.

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