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

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have received a consensus recommendation of “Hold” from the nine research firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $55.67.

A number of research firms have recently issued reports on TRP. StockNews.com assumed coverage on shares of TC Energy in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. Veritas upgraded TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Finally, BMO Capital Markets lifted their target price on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th.

TC Energy Price Performance

NYSE:TRP opened at $47.73 on Wednesday. TC Energy has a 52 week low of $31.83 and a 52 week high of $50.37. The stock’s fifty day moving average is $47.70 and its two-hundred day moving average is $45.19. The company has a market capitalization of $49.58 billion, a P/E ratio of 13.22, a P/E/G ratio of 3.88 and a beta of 0.82. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. Equities analysts expect that TC Energy will post 3 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.822 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 annualized dividend and a yield of 6.89%. TC Energy’s dividend payout ratio is 67.31%.

Hedge Funds Weigh In On TC Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Natixis Advisors LLC lifted its stake in TC Energy by 2.3% in the second quarter. Natixis Advisors LLC now owns 44,561 shares of the pipeline company’s stock worth $1,689,000 after acquiring an additional 1,017 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of TC Energy by 4.7% during the 2nd quarter. Private Advisor Group LLC now owns 25,592 shares of the pipeline company’s stock worth $970,000 after purchasing an additional 1,142 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of TC Energy during the second quarter worth $1,510,000. Ashton Thomas Private Wealth LLC purchased a new position in TC Energy in the second quarter valued at $51,000. Finally, United Services Automobile Association raised its stake in TC Energy by 4.7% in the second quarter. United Services Automobile Association now owns 38,050 shares of the pipeline company’s stock valued at $1,442,000 after buying an additional 1,711 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

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.