TC Energy Co. (NYSE:TRP) Receives $48.50 Consensus PT from Analysts

TC Energy Co. (NYSE:TRP) (TSE:TRP) has been given a consensus rating of “Hold” by the eight ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $48.50.

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday. StockNews.com initiated coverage on TC Energy in a research note on Saturday, October 5th. They issued a “hold” rating for the company. Veritas upgraded TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th.

Institutional Investors Weigh In On TC Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRP. Capital Research Global Investors increased its holdings in shares of TC Energy by 2.7% in the 1st quarter. Capital Research Global Investors now owns 57,170,304 shares of the pipeline company’s stock valued at $2,297,701,000 after acquiring an additional 1,492,315 shares during the last quarter. Vanguard Group Inc. raised its position in shares of TC Energy by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 41,057,330 shares of the pipeline company’s stock worth $1,650,505,000 after buying an additional 653,031 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of TC Energy by 107.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock worth $737,609,000 after purchasing an additional 10,065,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of TC Energy by 94.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock valued at $688,534,000 after acquiring an additional 8,339,800 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in shares of TC Energy by 9.5% in the 1st quarter. TD Asset Management Inc now owns 16,763,150 shares of the pipeline company’s stock valued at $674,366,000 after purchasing an additional 1,458,732 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

NYSE:TRP opened at $47.26 on Friday. The company has a market cap of $47.26 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. The company has a fifty day simple moving average of $46.20 and a two-hundred day simple moving average of $41.56. TC Energy has a 52 week low of $30.61 and a 52 week high of $48.25. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. The company 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 period last year, the firm earned $0.71 earnings per share. As a group, equities analysts anticipate 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 annualized dividend and a dividend yield of 5.94%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is currently 146.39%.

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.