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

Shares of TC Energy Co. (NYSE:TRPGet Rating) (TSE:TRP) have earned an average rating of “Hold” from the sixteen research firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $68.22.

A number of equities research analysts recently issued reports on TRP shares. Scotiabank decreased their price target on TC Energy from C$76.00 to C$67.00 in a research note on Thursday, October 20th. BMO Capital Markets decreased their price target on TC Energy from C$70.00 to C$68.00 in a research note on Wednesday, November 30th. Royal Bank of Canada decreased their price target on TC Energy from C$75.00 to C$73.00 in a research note on Wednesday, November 30th. Raymond James raised TC Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, January 6th. Finally, TD Securities decreased their price target on TC Energy from C$76.00 to C$74.00 in a research note on Wednesday, November 30th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TRP. American Century Companies Inc. increased its holdings in shares of TC Energy by 4.4% in the 1st quarter. American Century Companies Inc. now owns 27,957 shares of the pipeline company’s stock valued at $1,577,000 after acquiring an additional 1,188 shares during the period. Cetera Advisor Networks LLC increased its holdings in shares of TC Energy by 6.0% in the 1st quarter. Cetera Advisor Networks LLC now owns 5,664 shares of the pipeline company’s stock valued at $320,000 after acquiring an additional 323 shares during the period. BlackRock Inc. increased its holdings in shares of TC Energy by 43.9% in the 1st quarter. BlackRock Inc. now owns 878,551 shares of the pipeline company’s stock valued at $49,567,000 after acquiring an additional 267,934 shares during the period. Sei Investments Co. increased its holdings in shares of TC Energy by 40.4% in the 1st quarter. Sei Investments Co. now owns 110,816 shares of the pipeline company’s stock valued at $6,252,000 after acquiring an additional 31,882 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of TC Energy by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 33,256,822 shares of the pipeline company’s stock valued at $1,876,349,000 after acquiring an additional 993,965 shares during the period. 71.86% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Performance

NYSE TRP opened at $42.79 on Friday. The stock has a market capitalization of $43.56 billion, a PE ratio of 16.91, a P/E/G ratio of 3.37 and a beta of 0.81. The business has a 50 day simple moving average of $43.34 and a two-hundred day simple moving average of $46.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.53 and a quick ratio of 0.47. TC Energy has a 1-year low of $38.35 and a 1-year high of $59.38.

TC Energy (NYSE:TRPGet Rating) (TSE:TRP) last posted its quarterly earnings data on Wednesday, November 9th. The pipeline company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.07. The business had revenue of $2.91 billion during the quarter. TC Energy had a return on equity of 13.98% and a net margin of 22.89%. On average, research analysts predict that TC Energy will post 3.17 EPS for the current fiscal year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th will be given a dividend of $0.661 per share. This represents a $2.64 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date is Thursday, December 29th. TC Energy’s dividend payout ratio (DPR) is presently 105.14%.

About TC Energy

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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.

Further Reading

Analyst Recommendations for TC Energy (NYSE:TRP)

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