TC Energy Co. (NYSE:TRP) Receives Average Recommendation of “Hold” from Brokerages

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have earned an average recommendation of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $48.50.

A number of research analysts have recently weighed in on TRP shares. Veritas upgraded TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. StockNews.com started coverage on shares of TC Energy in a report on Saturday, October 5th. They set a “hold” rating for the company. The Goldman Sachs Group upped their price target on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th.

Institutional Trading of TC Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC purchased a new stake in shares of TC Energy during the 1st quarter valued at $1,159,000. Mirae Asset Global Investments Co. Ltd. grew its position in TC Energy by 15.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,109,055 shares of the pipeline company’s stock valued at $81,599,000 after acquiring an additional 278,886 shares during the period. M&G Plc acquired a new stake in TC Energy during the first quarter worth about $111,587,000. Cetera Investment Advisers raised its holdings in shares of TC Energy by 74.1% in the 1st quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock worth $3,972,000 after purchasing an additional 42,024 shares during the period. Finally, Maryland State Retirement & Pension System lifted its stake in shares of TC Energy by 1.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 1,302,358 shares of the pipeline company’s stock valued at $52,355,000 after purchasing an additional 22,430 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 0.1 %

Shares of TRP opened at $46.99 on Friday. TC Energy has a twelve month low of $30.61 and a twelve month high of $48.25. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $48.77 billion, a P/E ratio of 19.26, a PEG ratio of 3.92 and a beta of 0.81. The firm’s 50-day moving average is $46.08 and its two-hundred day moving average is $41.40.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The business had revenue of $2.99 billion for 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 quarter in the prior year, the firm posted $0.71 EPS. On average, research analysts predict that TC Energy will post 3.02 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a $0.702 dividend. This represents a $2.81 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio is currently 116.80%.

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.