TC Energy Corporation (NYSE:TRP) Receives $62.00 Consensus Price Target from Analysts

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have been assigned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $62.00.

A number of brokerages have issued reports on TRP. Barclays restated an “overweight” rating on shares of TC Energy in a research report on Thursday, August 14th. US Capital Advisors lowered shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research report on Thursday, August 21st. CIBC upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a research report on Friday, May 2nd. Finally, Cibc World Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 2nd.

Institutional Trading of TC Energy

A number of hedge funds have recently added to or reduced their stakes in TRP. Mariner LLC boosted its position in TC Energy by 12.4% in the fourth quarter. Mariner LLC now owns 39,580 shares of the pipeline company’s stock valued at $1,842,000 after buying an additional 4,375 shares in the last quarter. Guggenheim Capital LLC boosted its position in TC Energy by 9.7% in the fourth quarter. Guggenheim Capital LLC now owns 14,970 shares of the pipeline company’s stock valued at $697,000 after buying an additional 1,323 shares in the last quarter. Jump Financial LLC acquired a new stake in TC Energy in the fourth quarter valued at approximately $614,000. First Trust Advisors LP boosted its position in TC Energy by 685.3% in the fourth quarter. First Trust Advisors LP now owns 1,061,697 shares of the pipeline company’s stock valued at $49,411,000 after buying an additional 926,497 shares in the last quarter. Finally, Natixis boosted its position in TC Energy by 54.6% in the fourth quarter. Natixis now owns 34,468 shares of the pipeline company’s stock valued at $1,604,000 after buying an additional 12,174 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of NYSE:TRP opened at $51.26 on Thursday. The company’s 50 day moving average price is $48.72 and its two-hundred day moving average price is $48.36. TC Energy has a 12-month low of $40.76 and a 12-month high of $52.10. The firm has a market cap of $53.31 billion, a PE ratio of 17.50, a PEG ratio of 4.88 and a beta of 0.75. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the business posted $0.79 EPS. Equities 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 declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a dividend of $0.6148 per share. The ex-dividend date is Monday, September 29th. This represents a $2.46 annualized dividend and a dividend yield of 4.8%. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio (DPR) is 85.32%.

TC Energy Company Profile

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.