TC Energy Co. (NYSE:TRP) Receives $48.50 Consensus Price Target from Analysts

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have been given an average recommendation of “Hold” by the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $48.50.

Several research analysts have recently weighed in on TRP shares. StockNews.com started coverage on TC Energy in a research note on Saturday, October 5th. They issued a “hold” rating for the company. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Finally, Veritas upgraded shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th.

Hedge Funds Weigh In On TC Energy

Institutional investors have recently modified their holdings of the stock. EdgeRock Capital LLC acquired a new stake in shares of TC Energy in the second quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. grew its stake in TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 429 shares in the last quarter. Fortitude Family Office LLC purchased a new position in TC Energy in the 3rd quarter worth approximately $28,000. Blue Trust Inc. boosted its stake in TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after buying an additional 267 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in shares of TC Energy during the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of TC Energy stock opened at $47.26 on Friday. The stock has a market capitalization of $47.26 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. The company has a fifty day moving average of $46.20 and a 200-day moving average of $41.56. TC Energy has a 52-week low of $30.61 and a 52-week high of $48.25. 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 (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating 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 firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the prior year, the firm posted $0.71 earnings per share. Equities research analysts expect that TC Energy will post 3.02 EPS for the current year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a $0.702 dividend. This represents a $2.81 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio is presently 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.