TC Energy Co. (NYSE:TRP) Receives $44.67 Average PT from Brokerages

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have received an average rating of “Hold” from the six research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $44.67.

Separately, Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th.

TC Energy Price Performance

Shares of NYSE TRP opened at $46.69 on Thursday. The firm has a market cap of $48.44 billion, a PE ratio of 24.07, a PEG ratio of 3.80 and a beta of 0.81. The firm has a fifty day moving average of $42.40 and a 200 day moving average of $39.91. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. TC Energy has a one year low of $32.51 and a one year high of $47.24.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, research analysts predict that TC Energy will post 3.06 EPS for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a dividend of $0.702 per share. The ex-dividend date is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 6.01%. TC Energy’s payout ratio is 144.85%.

Hedge Funds Weigh In On TC Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new stake in shares of TC Energy during the second quarter worth $742,000. Souders Financial Advisors raised its position in TC Energy by 3.3% in the second quarter. Souders Financial Advisors now owns 85,421 shares of the pipeline company’s stock worth $3,237,000 after acquiring an additional 2,721 shares in the last quarter. Cetera Investment Advisers raised its position in TC Energy by 5.2% in the second quarter. Cetera Investment Advisers now owns 103,894 shares of the pipeline company’s stock worth $3,938,000 after acquiring an additional 5,165 shares in the last quarter. NewEdge Advisors LLC raised its position in TC Energy by 9.5% in the second quarter. NewEdge Advisors LLC now owns 46,687 shares of the pipeline company’s stock worth $1,769,000 after acquiring an additional 4,068 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. raised its position in TC Energy by 16.6% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,033,500 shares of the pipeline company’s stock worth $39,170,000 after acquiring an additional 147,500 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.