TC Energy (NYSE:TRP) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

TC Energy (NYSE:TRP) (TSE:TRP) had its price objective lifted by BMO Capital Markets from $66.00 to $70.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a market perform rating on the pipeline company’s stock.

TRP has been the topic of several other research reports. The Goldman Sachs Group raised their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Finally, Veritas upgraded 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $55.67.

TC Energy Price Performance

TC Energy stock opened at $49.86 on Wednesday. The stock has a fifty day moving average of $47.22 and a 200-day moving average of $43.18. The stock has a market capitalization of $51.75 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 4.19 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy has a 52 week low of $31.83 and a 52 week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results 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 company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, sell-side analysts expect that TC Energy will post 2.98 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders 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 dividend on an annualized basis and a yield of 6.59%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio is 78.95%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TRP. Fortitude Family Office LLC bought a new stake in TC Energy in the third quarter worth approximately $28,000. Blue Trust Inc. lifted its position 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 valued at $30,000 after acquiring an additional 267 shares during the period. EdgeRock Capital LLC acquired a new stake in TC Energy in the second quarter worth $25,000. Whittier Trust Co. of Nevada Inc. increased its stake in TC Energy by 138.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 429 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of TC Energy during the 3rd quarter worth about $39,000. 83.13% of the stock is owned by institutional investors and hedge funds.

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.