TC Energy Co. (NYSE:TRP) Receives Average Rating of “Hold” from Analysts

TC Energy Co. (NYSE:TRP) (TSE:TRP) has received a consensus recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $43.50.

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

TC Energy Price Performance

NYSE:TRP opened at $45.88 on Thursday. The business’s 50-day moving average price is $42.91 and its 200 day moving average price is $40.05. The firm has a market cap of $47.60 billion, a P/E ratio of 23.65, a PEG ratio of 3.81 and a beta of 0.81. TC Energy has a 52-week low of $32.51 and a 52-week high of $47.38. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The firm 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 previous year, the company earned $0.71 earnings per share. As a group, sell-side analysts predict that TC Energy will post 3.06 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a dividend of $0.702 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 annualized dividend and a yield of 6.12%. TC Energy’s payout ratio is presently 144.85%.

Institutional Trading of TC Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Signaturefd LLC increased its holdings in shares of TC Energy by 1.6% in the 2nd quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock valued at $621,000 after purchasing an additional 261 shares during the period. New Hampshire Trust increased its holdings in shares of TC Energy by 3.8% in the 1st quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock valued at $292,000 after purchasing an additional 269 shares during the period. Wealthspire Advisors LLC increased its holdings in shares of TC Energy by 2.1% in the 4th quarter. Wealthspire Advisors LLC now owns 14,383 shares of the pipeline company’s stock valued at $562,000 after purchasing an additional 300 shares during the period. Financial Advocates Investment Management increased its holdings in shares of TC Energy by 5.4% in the 4th quarter. Financial Advocates Investment Management now owns 6,121 shares of the pipeline company’s stock valued at $240,000 after purchasing an additional 316 shares during the period. Finally, Windsor Advisory Group LLC increased its holdings in shares of TC Energy by 2.5% in the 1st quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company’s stock valued at $516,000 after purchasing an additional 316 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

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.