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

TC Energy Co. (NYSE:TRP) (TSE:TRP) has earned an average recommendation of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $58.06.

Several brokerages recently commented on TRP. StockNews.com began coverage on shares of TC Energy in a research note on Thursday, August 17th. They issued a “hold” rating for the company. CIBC cut TC Energy from a “sector outperform” rating to a “neutral” rating in a report on Monday, July 24th. National Bank Financial raised TC Energy from a “sector perform” rating to an “outperform” rating in a report on Friday, July 28th. BMO Capital Markets cut TC Energy from an “outperform” rating to a “market perform” rating in a report on Friday, July 28th. Finally, TD Securities lowered shares of TC Energy from a “buy” rating to a “hold” rating and reduced their target price for the stock from $62.00 to $50.00 in a report on Friday, July 28th.

Hedge Funds Weigh In On TC Energy

Several institutional investors have recently made changes to their positions in TRP. Bank of Montreal Can bought a new stake in shares of TC Energy during the second quarter valued at approximately $2,243,924,000. Capital International Investors lifted its holdings in shares of TC Energy by 1.3% in the 2nd quarter. Capital International Investors now owns 34,924,369 shares of the pipeline company’s stock worth $1,411,027,000 after purchasing an additional 461,056 shares in the last quarter. Vanguard Group Inc. lifted 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 worth $1,876,349,000 after purchasing an additional 993,965 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of TC Energy by 65.1% in the 1st quarter. National Bank of Canada FI now owns 22,706,820 shares of the pipeline company’s stock worth $882,692,000 after purchasing an additional 8,950,372 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of TC Energy by 9.0% in the 2nd quarter. Mackenzie Financial Corp now owns 19,367,269 shares of the pipeline company’s stock worth $782,643,000 after purchasing an additional 1,594,538 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

TC Energy Stock Performance

Shares of NYSE:TRP opened at $35.34 on Monday. The company’s 50 day simple moving average is $37.88 and its 200 day simple moving average is $39.59. The stock has a market capitalization of $36.66 billion, a price-to-earnings ratio of 49.08, a price-to-earnings-growth ratio of 2.77 and a beta of 0.83. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.61 and a quick ratio of 0.52. TC Energy has a 1 year low of $33.02 and a 1 year high of $51.21.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, July 27th. The pipeline company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.02). The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.74 billion. TC Energy had a net margin of 6.89% and a return on equity of 13.80%. As a group, research analysts predict that TC Energy will post 3.19 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a dividend yield of 7.95%. This is a boost from TC Energy’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Thursday, September 28th. TC Energy’s dividend payout ratio is presently 390.28%.

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 93,700 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.