BMO Capital Markets Issues Positive Forecast for TC Energy (NYSE:TRP) Stock Price

TC Energy (NYSE:TRP) (TSE:TRP) had its price objective upped by BMO Capital Markets from $66.00 to $70.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a market perform rating on the pipeline company’s stock.

Other equities analysts have also recently issued reports about the stock. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. The Goldman Sachs Group raised their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. StockNews.com began coverage on TC Energy in a report on Monday, November 18th. They set a “hold” rating for the company. Finally, Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $55.67.

TC Energy Price Performance

Shares of TRP opened at $49.85 on Wednesday. The stock has a market capitalization of $51.74 billion, a P/E ratio of 13.81, a P/E/G ratio of 4.22 and a beta of 0.81. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37. The company has a 50 day moving average of $47.22 and a 200-day moving average of $43.22. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78.

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

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is 67.31%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors grew its holdings in shares of TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after purchasing an additional 242 shares during the last quarter. Signaturefd LLC grew its holdings in shares of TC Energy by 1.6% during the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock worth $621,000 after purchasing an additional 261 shares during the last quarter. Prospera Financial Services Inc grew its holdings in shares of TC Energy by 4.8% during the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock worth $274,000 after purchasing an additional 262 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of TC Energy by 8.1% during the third quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 264 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 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.