Analysts Set TC Energy Co. (NYSE:TRP) PT at $55.67

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have been given an average recommendation of “Hold” by the nine brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $55.67.

A number of equities analysts recently commented on TRP shares. Veritas upgraded TC Energy to a “strong sell” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. StockNews.com initiated coverage on TC Energy in a research note on Wednesday, December 4th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group boosted their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st.

TC Energy Stock Down 2.3 %

Shares of TRP opened at $46.71 on Wednesday. The company has a market capitalization of $48.52 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 3.88 and a beta of 0.82. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. TC Energy has a 52-week low of $31.83 and a 52-week high of $50.37. The stock has a fifty day simple moving average of $47.76 and a two-hundred day simple moving average of $45.37.

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

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 7.04%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is presently 67.31%.

Hedge Funds Weigh In On TC Energy

Several large investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board raised its holdings in shares of TC Energy by 107.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after buying an additional 10,065,000 shares during the period. Legal & General Group Plc grew its position in shares of TC Energy by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock worth $450,749,000 after acquiring an additional 467,497 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of TC Energy by 156.1% in the 3rd 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. Geode Capital Management LLC lifted its holdings in shares of TC Energy by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock worth $225,890,000 after purchasing an additional 360,548 shares during the last quarter. Finally, Merewether Investment Management LP lifted its holdings in shares of TC Energy by 37.9% in the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock worth $194,776,000 after purchasing an additional 1,127,000 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

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.