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

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have been assigned a consensus recommendation of “Hold” from the nine analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $56.00.

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group upped their price target on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. BMO Capital Markets upped their target price on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Finally, Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th.

TC Energy Stock Performance

TRP opened at $45.07 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The business’s 50 day moving average is $46.99 and its 200-day moving average is $46.13. The stock has a market cap of $46.83 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 4.34 and a beta of 0.82. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. On average, analysts predict that TC Energy will post 2.94 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.822 per share. This represents a $3.29 dividend on an annualized basis and a dividend yield of 7.30%. The ex-dividend date was Tuesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio is 63.43%.

Hedge Funds Weigh In On TC Energy

Hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of TC Energy by 156.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after buying an additional 4,126,801 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in shares of TC Energy in the 3rd quarter valued at approximately $73,162,000. Merewether Investment Management LP boosted its stake in TC Energy by 37.9% in the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock worth $194,776,000 after purchasing an additional 1,127,000 shares during the period. Duff & Phelps Investment Management Co. grew its position in TC Energy by 70.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock worth $83,874,000 after purchasing an additional 730,415 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its stake in TC Energy by 29.2% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock valued at $152,072,000 after purchasing an additional 722,619 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

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.