Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have been given a consensus rating of “Buy” by the fifteen analysts that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $69.25.
TRP has been the topic of several recent analyst reports. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a C$68.00 price target on shares of TC Energy in a report on Monday, August 23rd. CIBC increased their target price on shares of TC Energy from C$70.00 to C$74.00 and gave the stock an “outperform” rating in a report on Friday, June 18th. Morgan Stanley cut shares of TC Energy from an “overweight” rating to an “equal weight” rating and set a $76.00 target price on the stock. in a report on Tuesday, July 20th. Finally, The Goldman Sachs Group cut shares of TC Energy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $75.00 to $63.00 in a report on Monday, September 13th.
TRP traded down $1.31 during trading on Monday, hitting $47.85. The company had a trading volume of 2,136,974 shares, compared to its average volume of 1,884,248. The company has a market cap of $46.85 billion, a PE ratio of 29.91, a P/E/G ratio of 2.37 and a beta of 0.79. The business has a 50-day moving average of $48.28 and a 200-day moving average of $48.84. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.61 and a quick ratio of 0.55. TC Energy has a 1-year low of $38.80 and a 1-year high of $53.65.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Stockholders of record on Thursday, September 30th will be given a dividend of $0.6917 per share. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $2.77 annualized dividend and a dividend yield of 5.78%. TC Energy’s dividend payout ratio is currently 91.72%.
Institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in shares of TC Energy by 123.8% during the second quarter. Parallel Advisors LLC now owns 508 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 281 shares during the last quarter. Allred Capital Management LLC bought a new position in TC Energy in the 1st quarter valued at about $27,000. Rockefeller Capital Management L.P. grew its position in TC Energy by 54.4% in the 1st quarter. Rockefeller Capital Management L.P. now owns 715 shares of the pipeline company’s stock valued at $32,000 after buying an additional 252 shares in the last quarter. Eudaimonia Partners LLC grew its position in TC Energy by 65.3% in the 1st quarter. Eudaimonia Partners LLC now owns 1,284 shares of the pipeline company’s stock valued at $59,000 after buying an additional 507 shares in the last quarter. Finally, Aspire Private Capital LLC bought a new position in TC Energy in the 2nd quarter valued at about $64,000. Institutional investors and hedge funds own 69.40% of the company’s stock.
About TC Energy
TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Storage, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.
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