Analysts Set TC Energy Co. (NYSE:TRP) PT at $44.67

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have been given a consensus recommendation of “Hold” by the six analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $44.67.

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

TC Energy Trading Up 0.3 %

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

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.29. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates 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 firm posted $0.71 EPS. On average, equities analysts forecast that TC Energy will post 3.04 earnings per share for the current year.

TC Energy Cuts Dividend

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

Institutional Investors Weigh In On TC Energy

Several large investors have recently made changes to their positions in TRP. International Assets Investment Management LLC purchased a new position in shares of TC Energy in the fourth quarter worth $2,050,000. Allspring Global Investments Holdings LLC lifted its holdings in TC Energy by 29,994.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 309,376 shares of the pipeline company’s stock valued at $12,094,000 after acquiring an additional 308,348 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of TC Energy in the fourth quarter worth approximately $230,000. Cerity Partners LLC bought a new stake in shares of TC Energy during the 4th quarter valued at $456,000. Finally, Ingalls & Snyder LLC increased its holdings in TC Energy by 11.9% in the 4th quarter. Ingalls & Snyder LLC now owns 10,240 shares of the pipeline company’s stock worth $400,000 after acquiring an additional 1,090 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

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.