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

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $62.00.

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

Institutional Trading of TC Energy

A number of institutional investors and hedge funds have recently modified their holdings of TRP. Vanguard Group Inc. boosted its stake in TC Energy by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company’s stock valued at $2,035,952,000 after purchasing an additional 734,678 shares during the period. FIL Ltd increased its holdings in shares of TC Energy by 10.3% during the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company’s stock worth $1,325,558,000 after purchasing an additional 2,644,627 shares during the period. TD Asset Management Inc. increased its stake in TC Energy by 2.1% during the fourth quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company’s stock valued at $765,627,000 after acquiring an additional 344,485 shares during the period. Canada Pension Plan Investment Board raised its holdings in TC Energy by 9.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company’s stock valued at $686,763,000 after acquiring an additional 1,280,000 shares in the last quarter. Finally, Norges Bank acquired a new position in TC Energy in the 4th quarter valued at approximately $428,759,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Price Performance

TRP opened at $48.43 on Monday. TC Energy has a 12-month low of $34.95 and a 12-month high of $50.37. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The firm 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. The stock has a fifty day moving average of $46.48 and a 200-day moving average of $46.92.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The firm had revenue of $2.56 billion during 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 posted $1.35 EPS. Equities analysts forecast that TC Energy will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 7.02%. The ex-dividend date is Monday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is 72.53%.

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.