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

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have received an average recommendation of “Hold” from the nine analysts that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $55.67.

Several brokerages recently commented on TRP. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. StockNews.com began coverage on shares of TC Energy in a research report on Monday. They set a “hold” rating for the company. BMO Capital Markets upped their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC purchased a new position in shares of TC Energy in the first quarter worth approximately $1,159,000. Cetera Investment Advisers increased its position in shares of TC Energy by 74.1% in the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock worth $3,972,000 after acquiring an additional 42,024 shares in the last quarter. CIBC Asset Management Inc grew its position in TC Energy by 2.6% during the second quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock valued at $322,584,000 after purchasing an additional 214,689 shares in the last quarter. Harvest Portfolios Group Inc. grew its position in TC Energy by 107.7% during the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after purchasing an additional 117,176 shares in the last quarter. Finally, Legal & General Group Plc grew its position in TC Energy by 4.1% during the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock valued at $450,749,000 after purchasing an additional 467,497 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Performance

NYSE:TRP opened at $50.22 on Tuesday. The firm has a 50 day simple moving average of $47.16 and a 200-day simple moving average of $43.10. 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 market cap of $52.12 billion, a PE ratio of 13.91, a P/E/G ratio of 4.19 and a beta of 0.81. TC Energy has a 1-year low of $31.83 and a 1-year high of $50.29.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, equities analysts expect that TC Energy will post 2.98 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders 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 dividend yield of 6.55%. 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 dividend payout ratio (DPR) is currently 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.