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

TC Energy Corporation (NYSE:TRP) (TSE:TRP) has been given a consensus recommendation of “Hold” by the fourteen ratings firms that are covering the company, MarketBeat.com reports. One 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 1-year price target among brokerages that have covered the stock in the last year is $72.50.

A number of equities research analysts have weighed in on TRP shares. The Goldman Sachs Group boosted their target price on shares of TC Energy from $48.00 to $53.00 and gave the stock a “sell” rating in a report on Wednesday, February 18th. National Bank Financial lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Wall Street Zen raised shares of TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Raymond James Financial raised shares of TC Energy to a “hold” rating in a research note on Tuesday, February 17th. Finally, TD Securities lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th.

Institutional Investors Weigh In On TC Energy

A number of institutional investors have recently modified their holdings of the company. Pacifica Partners Inc. boosted its stake in shares of TC Energy by 14.0% in the 3rd quarter. Pacifica Partners Inc. now owns 1,625 shares of the pipeline company’s stock valued at $87,000 after purchasing an additional 200 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in shares of TC Energy by 2.0% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock valued at $544,000 after purchasing an additional 200 shares during the last quarter. Gold Investment Management Ltd. boosted its stake in shares of TC Energy by 2.0% in the 4th quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock valued at $549,000 after purchasing an additional 200 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in shares of TC Energy by 2.8% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock valued at $399,000 after purchasing an additional 202 shares during the last quarter. Finally, Kennebec Savings Bank boosted its stake in shares of TC Energy by 2.1% in the 4th quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock valued at $542,000 after purchasing an additional 203 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Trading Up 1.2%

TRP opened at $63.38 on Friday. TC Energy has a fifty-two week low of $43.93 and a fifty-two week high of $65.57. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.63 and a quick ratio of 0.56. The firm has a market capitalization of $66.03 billion, a price-to-earnings ratio of 27.27 and a beta of 0.69. The company’s 50 day moving average price is $62.52 and its two-hundred day moving average price is $56.80.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the firm posted $1.05 EPS. As a group, research analysts predict that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.5%. This is an increase from TC Energy’s previous quarterly dividend of $0.85. TC Energy’s payout ratio is currently 110.78%.

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.