TC Energy Co. (NYSE:TRP) Receives $44.67 Consensus PT from Analysts

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have received an average recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $44.67.

Separately, Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th.

Institutional Trading of TC Energy

Hedge funds have recently made changes to their positions in the stock. EdgeRock Capital LLC bought a new stake in TC Energy in the 4th quarter valued at about $25,000. Creekmur Asset Management LLC bought a new stake in shares of TC Energy during the fourth quarter valued at approximately $27,000. Glassman Wealth Services boosted its position in shares of TC Energy by 61.0% during the fourth quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock worth $28,000 after buying an additional 275 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in shares of TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after buying an additional 429 shares during the period. Finally, OLD Point Trust & Financial Services N A bought a new position in TC Energy in the 4th quarter worth approximately $31,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 0.3 %

Shares of TRP opened at $43.82 on Friday. TC Energy has a one year low of $32.51 and a one year high of $43.99. The stock has a 50-day moving average price of $40.19 and a 200 day moving average price of $39.14. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The company has a market capitalization of $43.82 billion, a P/E ratio of 22.59, a P/E/G ratio of 3.56 and a beta of 0.79.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.65 by $0.29. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same period in the prior year, the business posted $0.71 EPS. Sell-side analysts forecast that TC Energy will post 3.04 EPS for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a $0.702 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 6.41%. TC Energy’s payout ratio is currently 143.30%.

About TC Energy

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.