TC Energy Co. (NYSE:TRP) Receives Consensus Recommendation of “Hold” from Analysts

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have been given a consensus rating of “Hold” by the six brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $43.50.

A number of analysts recently commented on the company. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. StockNews.com assumed coverage on TC Energy in a research report on Friday. They issued a “hold” rating for the company.

Hedge Funds Weigh In On TC Energy

Institutional investors have recently modified their holdings of the stock. EdgeRock Capital LLC acquired a new position in shares of TC Energy during the 2nd quarter worth about $25,000. Creekmur Asset Management LLC acquired a new position in shares of TC Energy during the 4th quarter worth about $27,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of TC Energy by 138.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 429 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in shares of TC Energy in the 4th quarter valued at approximately $31,000. Finally, Mather Group LLC. acquired a new position in shares of TC Energy in the 2nd quarter valued at approximately $33,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

TC Energy stock opened at $46.76 on Monday. The stock has a 50-day simple moving average of $44.74 and a 200 day simple moving average of $40.61. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. TC Energy has a 12-month low of $32.51 and a 12-month high of $48.14. The stock has a market capitalization of $46.76 billion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 3.82 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same period last year, the company earned $0.71 earnings per share. On average, research analysts anticipate that TC Energy will post 3.08 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a dividend of $0.702 per share. The ex-dividend date is Friday, September 27th. This represents a $2.81 annualized dividend and a dividend yield of 6.01%. TC Energy’s payout ratio is currently 146.39%.

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.