Brokerages Set TC Energy Corporation (NYSE:TRP) Price Target at $72.50

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have been assigned a consensus recommendation of “Hold” from the fourteen research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $72.50.

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company reiterated an “overweight” rating on shares of TC Energy in a research note on Monday, February 16th. Raymond James Financial upgraded TC Energy to a “hold” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada upped their price objective on TC Energy from $84.00 to $92.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a report on Tuesday, February 17th. Finally, The Goldman Sachs Group boosted their target price on shares of TC Energy from $48.00 to $53.00 and gave the company a “sell” rating in a research report on Wednesday, February 18th.

TC Energy Stock Down 0.8%

Shares of TRP opened at $63.14 on Monday. The firm has a market cap of $65.74 billion, a P/E ratio of 27.17 and a beta of 0.72. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63. TC Energy has a 52 week low of $43.59 and a 52 week high of $65.57. The firm’s 50-day simple moving average is $59.22 and its 200 day simple moving average is $55.23.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the business posted $1.05 earnings per share. On average, analysts forecast that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a $0.8775 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. The ex-dividend date is Tuesday, March 31st. This represents a $3.51 annualized dividend and a yield of 5.6%. TC Energy’s dividend payout ratio is presently 110.78%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TRP. AQR Capital Management LLC raised its position in shares of TC Energy by 54.0% in the first quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock valued at $538,000 after buying an additional 3,892 shares in the last quarter. Focus Partners Wealth grew its position in TC Energy by 46.1% during the first quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock worth $588,000 after buying an additional 3,929 shares in the last quarter. Intech Investment Management LLC increased its stake in TC Energy by 200.7% during the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock worth $1,269,000 after acquiring an additional 17,939 shares during the period. Bank of New York Mellon Corp increased its stake in TC Energy by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 918,293 shares of the pipeline company’s stock worth $44,804,000 after acquiring an additional 3,052 shares during the period. Finally, SouthState Corp raised its holdings in TC Energy by 2,757.1% in the 2nd quarter. SouthState Corp now owns 1,000 shares of the pipeline company’s stock valued at $49,000 after acquiring an additional 965 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.