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

TC Energy Co. (NYSE:TRP) (TSE:TRP) has received an average rating of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $55.67.

A number of analysts recently issued reports on the company. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. StockNews.com initiated coverage on TC Energy in a research report on Monday. They issued a “hold” rating on the stock. The Goldman Sachs Group upped their price target 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. BMO Capital Markets increased their target price on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th.

Institutional Trading of TC Energy

Several hedge funds and other institutional investors have recently made changes to their positions in TRP. Intech Investment Management LLC purchased a new stake in TC Energy during the first quarter worth about $1,159,000. Cetera Investment Advisers lifted its holdings 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 valued at $3,972,000 after purchasing an additional 42,024 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of TC Energy by 2.6% in 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. lifted its holdings in shares of TC Energy by 107.7% in 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 lifted its holdings in shares of TC Energy by 4.1% in 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. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Up 2.1 %

TRP stock opened at $50.22 on Tuesday. The business has a 50 day moving average of $47.16 and a 200 day moving average of $43.10. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.29. The firm has a market cap of $52.12 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 4.19 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS 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 business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. On average, research analysts forecast that TC Energy will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a yield of 6.55%. TC Energy’s payout ratio is currently 78.95%.

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.