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

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have been assigned a consensus rating of “Hold” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $55.67.

A number of brokerages have recently issued reports on TRP. Veritas upgraded shares of TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. The Goldman Sachs Group increased their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. StockNews.com initiated coverage on TC Energy in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. Finally, UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. EdgeRock Capital LLC purchased a new stake in shares of TC Energy in the second quarter valued at $25,000. Whittier Trust Co. of Nevada Inc. grew its holdings in TC Energy by 138.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after buying an additional 429 shares during the period. Fortitude Family Office LLC purchased a new stake in TC Energy in the 3rd quarter valued at about $28,000. Blue Trust Inc. increased its stake 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 last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of TC Energy during the 3rd quarter worth about $39,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Price Performance

Shares of NYSE:TRP opened at $45.10 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The company has a 50-day moving average price of $47.79 and a 200 day moving average price of $44.39. TC Energy has a 52 week low of $31.83 and a 52 week high of $50.37. The company has a market cap of $46.81 billion, a P/E ratio of 12.49, a PEG ratio of 3.88 and a beta of 0.82.

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. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. Research analysts predict that TC Energy will post 3 earnings per share for the current 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 paid a dividend of $0.822 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a dividend yield of 7.29%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is currently 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.