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

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have been assigned a consensus rating of “Hold” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $55.67.

A number of research firms have recently weighed in on TRP. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. StockNews.com started coverage on TC Energy in a research note on Wednesday, December 4th. They issued a “hold” rating for the company. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Veritas upgraded TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group increased their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its position in shares of TC Energy by 33.4% during the second quarter. SG Americas Securities LLC now owns 3,455 shares of the pipeline company’s stock worth $131,000 after acquiring an additional 865 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in TC Energy by 69.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,402 shares of the pipeline company’s stock worth $622,000 after purchasing an additional 6,695 shares in the last quarter. Nexus Investment Management ULC increased its holdings in TC Energy by 2.6% during the 2nd quarter. Nexus Investment Management ULC now owns 632,285 shares of the pipeline company’s stock worth $23,953,000 after purchasing an additional 15,800 shares during the period. Stableford Capital II LLC raised its position in TC Energy by 1.4% during the 2nd quarter. Stableford Capital II LLC now owns 30,272 shares of the pipeline company’s stock valued at $1,213,000 after purchasing an additional 422 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its holdings in shares of TC Energy by 4.6% in the 2nd quarter. Hennessy Advisors Inc. now owns 614,400 shares of the pipeline company’s stock worth $23,286,000 after buying an additional 27,100 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Down 0.7 %

Shares of TC Energy stock opened at $46.45 on Friday. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The business has a 50-day moving average price of $47.74 and a 200-day moving average price of $44.18. The firm has a market cap of $48.21 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 3.95 and a beta of 0.82.

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

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date is Tuesday, December 31st. TC Energy’s payout ratio is currently 67.31%.

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.