Brokerages Set TC Energy Co. (NYSE:TRP) Target Price at $67.27

Shares of TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP) have received a consensus recommendation of “Hold” from the seventeen analysts that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $67.27.

A number of equities research analysts recently issued reports on TRP shares. Scotiabank upped their price objective on shares of TC Energy from C$72.00 to C$78.00 in a report on Wednesday, April 13th. Wells Fargo & Company upped their price objective on shares of TC Energy from $63.00 to $68.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 22nd. StockNews.com started coverage on shares of TC Energy in a report on Thursday, March 31st. They issued a “hold” rating for the company. National Bank Financial upped their price target on shares of TC Energy from C$65.00 to C$66.00 in a report on Thursday, February 17th. Finally, CIBC upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Thursday, May 12th.

Shares of TC Energy stock traded up $0.42 on Friday, hitting $57.50. 1,149,891 shares of the company traded hands, compared to its average volume of 1,880,555. The company has a 50-day moving average price of $56.53 and a 200 day moving average price of $52.27. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.59. TC Energy has a 12-month low of $44.77 and a 12-month high of $59.06. The company has a market cap of $56.55 billion, a PE ratio of 21.86, a PEG ratio of 4.26 and a beta of 0.71.

TC Energy (NYSE:TRPGet Rating) (TSE:TRP) last posted its quarterly earnings results on Friday, April 29th. The pipeline company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). The company had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.60 billion. TC Energy had a net margin of 24.96% and a return on equity of 14.61%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Equities research analysts anticipate that TC Energy will post 3.35 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Thursday, June 30th will be paid a $0.72 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $2.88 annualized dividend and a yield of 5.01%. TC Energy’s payout ratio is currently 109.51%.

Hedge funds have recently made changes to their positions in the stock. Portland Investment Counsel Inc. boosted its stake in TC Energy by 2.4% in the 3rd quarter. Portland Investment Counsel Inc. now owns 338,600 shares of the pipeline company’s stock valued at $16,296,000 after buying an additional 7,900 shares in the last quarter. Trust Co. of Virginia VA raised its position in TC Energy by 5.1% in the 4th quarter. Trust Co. of Virginia VA now owns 105,831 shares of the pipeline company’s stock valued at $4,925,000 after purchasing an additional 5,182 shares during the last quarter. Neuberger Berman Group LLC raised its position in TC Energy by 45.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 874,756 shares of the pipeline company’s stock valued at $42,248,000 after purchasing an additional 275,131 shares during the last quarter. Baskin Financial Services Inc. raised its position in shares of TC Energy by 1.6% during the fourth quarter. Baskin Financial Services Inc. now owns 177,076 shares of the pipeline company’s stock worth $8,231,000 after acquiring an additional 2,748 shares during the last quarter. Finally, Cetera Advisor Networks LLC raised its position in shares of TC Energy by 16.0% during the third quarter. Cetera Advisor Networks LLC now owns 5,371 shares of the pipeline company’s stock worth $258,000 after acquiring an additional 742 shares during the last quarter. 70.11% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Company Profile (Get Rating)

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 Storage. The company builds and operates 93,300 km network 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.

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Analyst Recommendations for TC Energy (NYSE:TRP)

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