Analysts Set TC Energy Co. (NYSE:TRP) PT at $56.00

TC Energy Co. (NYSE:TRP) (TSE:TRP) has been assigned a consensus rating of “Hold” from the nine analysts that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $56.00.

Several equities research analysts have recently weighed in on TRP shares. BMO Capital Markets increased their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. TD Securities assumed coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Veritas raised TC Energy to a “strong sell” rating in a report on Tuesday, October 8th.

Institutional Investors Weigh In On TC Energy

A number of hedge funds and other institutional investors have recently modified their holdings of TRP. Connor Clark & Lunn Investment Management Ltd. lifted its position in TC Energy by 156.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after buying an additional 4,126,801 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in shares of TC Energy during the 3rd quarter valued at about $73,162,000. Merewether Investment Management LP lifted its holdings in shares of TC Energy by 37.9% during the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock worth $194,776,000 after acquiring an additional 1,127,000 shares during the period. Duff & Phelps Investment Management Co. boosted its position in shares of TC Energy by 70.7% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock worth $83,874,000 after acquiring an additional 730,415 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its holdings in TC Energy by 29.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock valued at $152,072,000 after purchasing an additional 722,619 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Price Performance

Shares of TRP opened at $46.71 on Friday. The firm has a market capitalization of $48.53 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 4.31 and a beta of 0.81. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The firm’s fifty day simple moving average is $46.92 and its 200-day simple moving average is $46.25. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. Equities analysts forecast that TC Energy will post 2.95 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a $0.822 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a dividend yield of 7.04%. The ex-dividend date of this dividend was Tuesday, December 31st. TC Energy’s dividend payout ratio is currently 63.43%.

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.