TC Energy Corporation (NYSE:TRP) Receives Average Recommendation of “Hold” from Analysts

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have received a consensus rating of “Hold” from the fourteen research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $72.50.

A number of analysts have recently commented on the company. Morgan Stanley restated an “overweight” rating on shares of TC Energy in a research note on Wednesday, January 28th. Wells Fargo & Company reiterated an “overweight” rating on shares of TC Energy in a research report on Monday, February 16th. Royal Bank Of Canada boosted their price target on TC Energy from $84.00 to $92.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research note on Tuesday, February 17th. Finally, Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a report on Thursday, February 19th.

TC Energy Trading Up 1.8%

Shares of TC Energy stock opened at $63.34 on Friday. The stock has a market cap of $65.95 billion, a PE ratio of 27.25 and a beta of 0.69. The firm has a fifty day moving average price of $62.14 and a 200 day moving average price of $56.52. TC Energy has a 1 year low of $43.59 and a 1 year high of $65.57. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.63 and a quick ratio of 0.56.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.94 billion. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. During the same period in the prior year, the company earned $1.05 earnings per share. 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 Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.8775 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 annualized dividend and a yield of 5.5%. The ex-dividend date is Tuesday, March 31st. TC Energy’s dividend payout ratio (DPR) is 110.78%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Purpose Unlimited Inc. purchased a new stake in shares of TC Energy during the 4th quarter worth about $28,510,000. Rockefeller Capital Management L.P. increased its stake in shares of TC Energy by 4.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 13,767 shares of the pipeline company’s stock valued at $757,000 after purchasing an additional 536 shares in the last quarter. World Investment Advisors raised its holdings in TC Energy by 25.8% in the 4th quarter. World Investment Advisors now owns 5,444 shares of the pipeline company’s stock worth $300,000 after purchasing an additional 1,115 shares during the period. Corient Private Wealth LLC boosted its position in TC Energy by 45.6% during the fourth quarter. Corient Private Wealth LLC now owns 46,700 shares of the pipeline company’s stock worth $2,576,000 after purchasing an additional 14,629 shares in the last quarter. Finally, Bayban purchased a new position in TC Energy during the fourth quarter worth approximately $54,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.