TC Energy Co. (NYSE:TRP) Receives $48.83 Average PT from Analysts

TC Energy Co. (NYSE:TRP) (TSE:TRP) has been given an average recommendation of “Hold” by the twelve research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $48.83.

Several analysts recently weighed in on TRP shares. Jefferies Financial Group began coverage on shares of TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating for the company. Barclays lifted their target price on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Stifel Nicolaus assumed coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a “buy” rating on the stock. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Finally, The Goldman Sachs Group increased their target price on shares of TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a report on Friday, January 26th.

TC Energy Price Performance

TRP stock opened at $37.62 on Friday. TC Energy has a 52-week low of $32.51 and a 52-week high of $42.49. The business has a fifty day moving average of $38.45 and a two-hundred day moving average of $38.16. The stock has a market cap of $37.62 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 3.24 and a beta of 0.76. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. TC Energy had a net margin of 17.23% and a return on equity of 20.63%. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.93 billion. As a group, research analysts anticipate that TC Energy will post 2.9 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 7.55%. The ex-dividend date of this dividend is Friday, June 28th. TC Energy’s dividend payout ratio is presently 145.88%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its stake in TC Energy by 29,994.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 309,376 shares of the pipeline company’s stock valued at $12,094,000 after purchasing an additional 308,348 shares during the last quarter. Addenda Capital Inc. grew its position in shares of TC Energy by 2.5% in the 4th quarter. Addenda Capital Inc. now owns 1,089,146 shares of the pipeline company’s stock valued at $42,575,000 after buying an additional 26,711 shares during the last quarter. Morgan Stanley raised its stake in TC Energy by 42.5% during the 3rd quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock worth $234,719,000 after acquiring an additional 2,034,846 shares in the last quarter. Mondrian Investment Partners LTD lifted its position in TC Energy by 9.3% in the third quarter. Mondrian Investment Partners LTD now owns 7,231,694 shares of the pipeline company’s stock valued at $248,843,000 after acquiring an additional 618,040 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in TC Energy by 6.5% in the third quarter. Van ECK Associates Corp now owns 296,979 shares of the pipeline company’s stock valued at $10,218,000 after acquiring an additional 18,213 shares in the last quarter. 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.