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

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have received an average rating of “Hold” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $55.67.

TRP has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. StockNews.com started coverage on shares of TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC purchased a new position in TC Energy during the third quarter worth approximately $28,000. Blue Trust Inc. raised its holdings in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 267 shares during the period. Versant Capital Management Inc acquired a new position in shares of TC Energy during the 4th quarter valued at about $33,000. Point72 DIFC Ltd purchased a new stake in shares of TC Energy in the third quarter valued at about $39,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in TC Energy during the second quarter worth about $51,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

TRP opened at $47.73 on Wednesday. The stock has a market cap of $49.58 billion, a P/E ratio of 13.22, a P/E/G ratio of 3.88 and a beta of 0.82. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The firm has a fifty day moving average price of $47.70 and a 200 day moving average price of $45.19. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted 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 for the quarter, compared to analyst estimates of $2.83 billion. Equities research analysts anticipate that TC Energy will post 3 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.822 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.89%. TC Energy’s dividend payout ratio is presently 67.31%.

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.