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

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have been assigned a consensus recommendation of “Hold” from the twelve research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $48.83.

TRP has been the subject of a number of research reports. TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group upped their price target on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. Jefferies Financial Group initiated coverage on TC Energy in a research report on Tuesday, February 27th. They set a “hold” rating for the company. Barclays upped their target price on shares of TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Finally, Stifel Nicolaus assumed coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a “buy” rating for the company.

TC Energy Price Performance

Shares of TRP stock opened at $37.61 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96. The firm has a market cap of $37.61 billion, a P/E ratio of 18.53, a P/E/G ratio of 3.07 and a beta of 0.76. The business’s 50 day moving average price is $38.53 and its 200-day moving average price is $38.07. TC Energy has a fifty-two week low of $32.51 and a fifty-two week high of $42.49.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.20. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.93 billion. On average, equities research analysts anticipate that TC Energy will post 2.91 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were issued a $0.714 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. This represents a $2.86 dividend on an annualized basis and a yield of 7.59%. The ex-dividend date of this dividend was Wednesday, March 27th. TC Energy’s payout ratio is presently 139.41%.

Institutional Trading of TC Energy

A number of institutional investors and hedge funds have recently modified their holdings of TRP. Gould Asset Management LLC CA boosted its position in shares of TC Energy by 18.6% during the first quarter. Gould Asset Management LLC CA now owns 9,003 shares of the pipeline company’s stock valued at $362,000 after buying an additional 1,410 shares during the last quarter. Gold Investment Management Ltd. grew its stake in shares of TC Energy by 4.6% in the first quarter. Gold Investment Management Ltd. now owns 9,230 shares of the pipeline company’s stock worth $371,000 after acquiring an additional 403 shares during the period. Mediolanum International Funds Ltd purchased a new position in shares of TC Energy during the first quarter valued at approximately $1,014,000. Lorne Steinberg Wealth Management Inc. lifted its position in TC Energy by 6.2% during the first quarter. Lorne Steinberg Wealth Management Inc. now owns 175,448 shares of the pipeline company’s stock valued at $7,053,000 after purchasing an additional 10,166 shares during the period. Finally, Financial Counselors Inc. grew its position in TC Energy by 1.1% in the 1st quarter. Financial Counselors Inc. now owns 209,128 shares of the pipeline company’s stock worth $8,407,000 after purchasing an additional 2,187 shares during the period. Institutional investors 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.