TC Energy (NYSE:TRP) Price Target Raised to $74.00 at Royal Bank of Canada

TC Energy (NYSE:TRP) (TSE:TRP) had its price objective raised by Royal Bank of Canada from $71.00 to $74.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the pipeline company’s stock.

A number of other research analysts have also weighed in on TRP. StockNews.com started coverage on TC Energy in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. BMO Capital Markets lifted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group boosted their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Finally, Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TC Energy presently has an average rating of “Hold” and a consensus target price of $62.00.

TC Energy Trading Up 1.0 %

TC Energy stock opened at $46.38 on Tuesday. The stock has a 50-day moving average of $46.58 and a two-hundred day moving average of $46.60. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy has a one year low of $31.83 and a one year high of $50.37. The stock has a market cap of $48.19 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.54. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. During the same quarter in the previous year, the firm posted $1.35 EPS. On average, research analysts anticipate that TC Energy will post 2.92 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a yield of 7.33%. TC Energy’s dividend payout ratio (DPR) is 63.43%.

Institutional Investors Weigh In On TC Energy

Institutional investors have recently added to or reduced their stakes in the company. Vise Technologies Inc. acquired a new stake in TC Energy during the fourth quarter valued at approximately $222,000. USS Investment Management Ltd raised its position in TC Energy by 16.7% in the 4th quarter. USS Investment Management Ltd now owns 187,438 shares of the pipeline company’s stock worth $8,716,000 after purchasing an additional 26,768 shares during the last quarter. Vident Advisory LLC bought a new position in TC Energy in the 4th quarter worth approximately $7,362,000. Twinbeech Capital LP bought a new position in TC Energy in the 4th quarter worth approximately $558,000. Finally, State of Wyoming raised its position in shares of TC Energy by 126.8% during the 4th quarter. State of Wyoming now owns 10,250 shares of the pipeline company’s stock valued at $477,000 after acquiring an additional 5,730 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

About TC Energy

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.