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

TC Energy Co. (NYSE:TRP) (TSE:TRP) saw strong trading volume on Tuesday . 6,751,132 shares traded 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.

Analyst Ratings Changes

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

TC Energy Stock Performance

The firm has a market cap of $40.20 billion, a PE ratio of 19.80, a P/E/G ratio of 3.38 and a beta of 0.75. The stock has a 50-day moving average price of $39.42 and a 200 day moving average price of $37.79. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88.

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

TC Energy Increases Dividend

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

Institutional Investors Weigh In On TC Energy

Several large investors have recently made changes to their positions in the business. EdgeRock Capital LLC acquired a new position in TC Energy in the 4th quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new stake in TC Energy during the 4th quarter worth approximately $26,000. Creekmur Asset Management LLC acquired a new position in shares of TC Energy in the 4th quarter valued at approximately $27,000. Glassman Wealth Services boosted its stake in shares of TC Energy by 61.0% during the 4th quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after buying an additional 275 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of TC Energy during the fourth quarter worth approximately $31,000. 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.