Brokerages Set TC Energy Co. (NYSE:TRP) Price Target at $55.67

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have received a consensus rating of “Hold” from the nine analysts that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $55.67.

Several analysts recently commented on TRP shares. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. StockNews.com began coverage on shares of TC Energy in a report on Wednesday, December 4th. They issued a “hold” rating for the company. Finally, BMO Capital Markets boosted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th.

TC Energy Stock Performance

Shares of TRP stock opened at $46.71 on Wednesday. The stock has a market cap of $48.52 billion, a P/E ratio of 12.94, a P/E/G ratio of 3.88 and a beta of 0.82. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The company has a fifty day moving average price of $47.76 and a two-hundred day moving average price of $45.28. TC Energy has a one year low of $31.83 and a one year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. As a group, equities analysts predict that TC Energy will post 3 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.822 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a yield of 7.04%. The ex-dividend date is Tuesday, December 31st. TC Energy’s dividend payout ratio is 67.31%.

Institutional Investors Weigh In On TC Energy

Several large investors have recently modified their holdings of TRP. Canada Pension Plan Investment Board boosted its stake in 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 worth $737,609,000 after acquiring an additional 10,065,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in TC Energy by 156.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after acquiring an additional 4,126,801 shares in the last quarter. Merewether Investment Management LP bought a new position in TC Energy during the second quarter worth $112,618,000. Marshall Wace LLP boosted its stake in TC Energy by 841.1% during the second quarter. Marshall Wace LLP now owns 2,040,863 shares of the pipeline company’s stock worth $77,349,000 after acquiring an additional 1,824,008 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in TC Energy during the third quarter worth $73,162,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

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.