TC Energy Co. (NYSE:TRP) Receives $43.50 Average Target Price from Analysts

TC Energy Co. (NYSE:TRP) (TSE:TRP) has received an average rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $43.50.

TRP has been the topic of several analyst reports. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Finally, StockNews.com began coverage on TC Energy in a research report on Saturday. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On TC Energy

Large investors have recently modified their holdings of the business. EdgeRock Capital LLC acquired a new stake in shares of TC Energy in the 2nd quarter valued at $25,000. Creekmur Asset Management LLC bought a new position in shares of TC Energy in the 4th quarter valued at $27,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of 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 acquiring an additional 429 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of TC Energy in the 4th quarter valued at $31,000. Finally, Mather Group LLC. bought a new position in shares of TC Energy in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of NYSE:TRP opened at $45.11 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $45.11 billion, a PE ratio of 23.25, a PEG ratio of 3.57 and a beta of 0.81. TC Energy has a 1-year low of $32.56 and a 1-year high of $48.42. The business’s 50 day moving average is $45.17 and its 200-day moving average is $40.81.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.29. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same quarter in the previous year, the company posted $0.71 EPS. Sell-side analysts predict that TC Energy will post 3.08 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a $0.702 dividend. This represents a $2.81 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio is presently 146.39%.

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.