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

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

A number of brokerages recently issued reports on TRP. Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group upped their target price on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Finally, StockNews.com assumed coverage on shares of TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating for the company.

TC Energy Stock Up 1.0 %

TC Energy stock opened at $45.79 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. TC Energy has a 1-year low of $31.83 and a 1-year high of $50.37. The firm’s fifty day simple moving average is $47.79 and its 200-day simple moving average is $44.44. The company has a market capitalization of $47.53 billion, a P/E ratio of 12.68, a P/E/G ratio of 3.88 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last posted 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. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. Sell-side analysts forecast that TC Energy will post 3 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 7.18%. This is a boost from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is 67.31%.

Institutional Trading of TC Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in TRP. Fortitude Family Office LLC acquired a new position in shares of TC Energy during the third quarter worth approximately $28,000. Blue Trust Inc. raised its position in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares during the last quarter. EdgeRock Capital LLC acquired a new position in TC Energy during the 2nd quarter worth $25,000. Whittier Trust Co. of Nevada Inc. boosted its position in TC Energy by 138.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after buying an additional 429 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in TC Energy in the 3rd quarter valued at $39,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

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.