TC Energy Co. (NYSE:TRP) Given Average Recommendation of “Hold” by Analysts

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have received a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $48.50.

TRP has been the topic of several analyst reports. Veritas raised TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group upped their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. Finally, StockNews.com began coverage on shares of TC Energy in a research note on Monday. They issued a “hold” rating for the company.

Hedge Funds Weigh In On TC Energy

A number of institutional investors and hedge funds have recently made changes to their positions in TRP. Murchinson Ltd. bought a new stake in TC Energy during the first quarter valued at about $506,485,000. Canada Pension Plan Investment Board lifted its position in shares of TC Energy by 107.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after buying an additional 10,065,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of TC Energy by 156.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after acquiring an additional 4,126,801 shares during the period. Merewether Investment Management LP purchased a new stake in TC Energy in the 2nd quarter worth approximately $112,618,000. Finally, Cardinal Capital Management Inc. raised its stake in TC Energy by 101.4% during the 2nd quarter. Cardinal Capital Management Inc. now owns 5,068,758 shares of the pipeline company’s stock worth $192,024,000 after acquiring an additional 2,551,926 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

TRP opened at $49.90 on Tuesday. The firm has a market cap of $51.79 billion, a PE ratio of 13.82, a P/E/G ratio of 4.12 and a beta of 0.81. The stock has a 50-day moving average price of $46.93 and a 200-day moving average price of $42.92. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.22. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Sell-side analysts predict that TC Energy will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 annualized dividend and a dividend yield of 6.59%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio is presently 78.95%.

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.