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

TC Energy Co. (NYSE:TRP) (TSE:TRP) has been given an average recommendation of “Hold” by the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $58.44.

A number of brokerages have weighed in on TRP. StockNews.com began coverage on TC Energy in a research note on Thursday, October 5th. They set a “hold” rating for the company. BMO Capital Markets lowered TC Energy from an “outperform” rating to a “market perform” rating in a research note on Friday, July 28th. TheStreet lowered TC Energy from a “c” rating to a “d+” rating in a research note on Wednesday, November 8th. The Goldman Sachs Group began coverage on TC Energy in a research note on Thursday, October 5th. They set a “sell” rating for the company. Finally, Wolfe Research upgraded TC Energy from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, October 17th.

TC Energy Trading Up 1.6 %

TRP stock opened at $36.72 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.75 and a debt-to-equity ratio of 43.25. TC Energy has a 1 year low of $32.51 and a 1 year high of $49.51. The stock has a 50-day simple moving average of $35.35 and a 200-day simple moving average of $37.54.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Wednesday, November 8th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. TC Energy had a return on equity of 18.19% and a net margin of 0.10%. The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.76 billion. Sell-side analysts forecast that TC Energy will post 2.76 EPS for the current year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a $0.67 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.68 annualized dividend and a dividend yield of 7.30%. TC Energy’s payout ratio is -4,583.33%.

Institutional Trading of TC Energy

Hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its holdings in shares of TC Energy by 197.3% in the 1st quarter. Jones Financial Companies Lllp now owns 669 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 444 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new stake in shares of TC Energy in the 2nd quarter worth approximately $32,000. Hexagon Capital Partners LLC lifted its holdings in shares of TC Energy by 158.3% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,085 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 665 shares during the last quarter. Money Concepts Capital Corp lifted its holdings in shares of TC Energy by 149.1% in the 4th quarter. Money Concepts Capital Corp now owns 949 shares of the pipeline company’s stock worth $38,000 after purchasing an additional 568 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of TC Energy by 152.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,028 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 620 shares during the last quarter. Institutional investors own 73.67% of the company’s stock.

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 93,700 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.