TC Energy (NYSE:TRP) Sees Unusually-High Trading Volume

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) saw an uptick in trading volume on Tuesday . 6,751,132 shares changed hands during trading, an increase of 174% from the previous session’s volume of 2,460,551 shares.The stock last traded at $40.58 and had previously closed at $40.50.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TRP. Jefferies Financial Group started coverage on TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating for the company. Stifel Nicolaus started coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a “buy” rating for the company. Barclays lifted their price target on shares of TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. The Goldman Sachs Group increased their price objective on shares of TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a report on Friday, January 26th. Finally, TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $48.83.

TC Energy Price Performance

The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. The firm’s 50-day moving average price is $39.42 and its 200-day moving average price is $37.79. The stock has a market capitalization of $40.20 billion, a PE ratio of 19.80, a PEG ratio of 3.38 and a beta of 0.75.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.93 billion. TC Energy had a return on equity of 18.60% and a net margin of 18.25%. On average, equities analysts forecast that TC Energy Co. will post 2.99 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a $0.714 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.86 annualized dividend and a dividend yield of 7.10%. This is an increase from TC Energy’s previous quarterly dividend of $0.67. TC Energy’s dividend payout ratio is currently 138.42%.

Institutional Trading of TC Energy

Several institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in shares of TC Energy by 4.4% during the 1st quarter. American Century Companies Inc. now owns 27,957 shares of the pipeline company’s stock worth $1,577,000 after acquiring an additional 1,188 shares during the last quarter. Cetera Advisor Networks LLC lifted its position in shares of TC Energy by 6.0% during the first quarter. Cetera Advisor Networks LLC now owns 5,664 shares of the pipeline company’s stock worth $320,000 after purchasing an additional 323 shares during the last quarter. BlackRock Inc. boosted its stake in shares of TC Energy by 43.9% during the first quarter. BlackRock Inc. now owns 878,551 shares of the pipeline company’s stock valued at $49,567,000 after purchasing an additional 267,934 shares during the period. Sei Investments Co. grew its holdings in shares of TC Energy by 40.4% in the first quarter. Sei Investments Co. now owns 110,816 shares of the pipeline company’s stock worth $6,252,000 after purchasing an additional 31,882 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of TC Energy by 3.1% in the first quarter. Vanguard Group Inc. now owns 33,256,822 shares of the pipeline company’s stock worth $1,876,349,000 after purchasing an additional 993,965 shares during the last quarter. Institutional investors 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.