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

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have been assigned a consensus rating of “Hold” from the nine analysts that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $55.67.

Several analysts recently commented on the stock. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. BMO Capital Markets raised their target price on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group lifted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st.

Hedge Funds Weigh In On TC Energy

A number of large investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board increased its holdings in shares of TC Energy by 107.1% during the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after acquiring an additional 10,065,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in TC Energy by 156.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after purchasing an additional 4,126,801 shares in the last quarter. Merewether Investment Management LP purchased a new position in shares of TC Energy during the 2nd quarter valued at approximately $112,618,000. Marshall Wace LLP lifted its position in shares of TC Energy by 841.1% during the 2nd quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock valued at $77,349,000 after buying an additional 1,824,008 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of TC Energy during the 3rd quarter valued at approximately $73,162,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Down 2.3 %

Shares of TRP opened at $46.71 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37. The stock has a market capitalization of $48.52 billion, a P/E ratio of 12.94, a PEG ratio of 3.88 and a beta of 0.82. The firm has a fifty day simple moving average of $47.76 and a two-hundred day simple moving average of $45.37.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.06. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, research analysts anticipate that TC Energy will post 3 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.822 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a dividend yield of 7.04%. The ex-dividend date is Tuesday, December 31st. TC Energy’s payout ratio is presently 67.31%.

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.