Brokerages Set TC Energy Co. (NYSE:TRP) Target Price at $62.00

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have been given a consensus recommendation of “Moderate Buy” by the nine research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $62.00.

A number of research analysts have issued reports on TRP shares. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Royal Bank of Canada increased their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. TD Securities started coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd.

TC Energy Trading Down 0.9 %

Shares of NYSE TRP opened at $48.43 on Monday. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. TC Energy has a 52-week low of $34.95 and a 52-week high of $50.37. The stock’s 50 day moving average price is $46.48 and its two-hundred day moving average price is $46.92. The stock has a market capitalization of $50.32 billion, a P/E ratio of 14.95, a PEG ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period last year, the company earned $1.35 earnings per share. On average, analysts anticipate that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.85 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 7.02%. TC Energy’s payout ratio is 72.53%.

Institutional Investors Weigh In On TC Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Addenda Capital Inc. raised its position in shares of TC Energy by 4.4% during the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock worth $48,135,000 after purchasing an additional 43,639 shares during the period. Captrust Financial Advisors increased its stake in TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after purchasing an additional 242 shares in the last quarter. Ritholtz Wealth Management raised its holdings in TC Energy by 44.8% during the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after buying an additional 7,412 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in TC Energy during the third quarter valued at about $3,771,000. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of TC Energy by 7.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,034,698 shares of the pipeline company’s stock worth $48,144,000 after buying an additional 71,955 shares during the period. Institutional investors and hedge funds own 83.13% 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 93,600 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.