TC Energy Co. (NYSE:TRP) (TSE:TRP) has been assigned an average rating of “Buy” from the fifteen analysts that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $69.25.
TRP has been the topic of several recent research reports. The Goldman Sachs Group lowered shares of TC Energy from a “buy” rating to a “neutral” rating and lowered their price target for the company from $75.00 to $63.00 in a research note on Monday, September 13th. JPMorgan Chase & Co. restated a “hold” rating and set a C$68.00 price objective on shares of TC Energy in a research note on Monday, August 23rd. Morgan Stanley lowered shares of TC Energy from an “overweight” rating to an “equal weight” rating and set a $76.00 price objective on the stock. in a research note on Tuesday, July 20th. Finally, CIBC boosted their price objective on shares of TC Energy from C$70.00 to C$74.00 and gave the stock an “outperform” rating in a research note on Friday, June 18th.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Mufg Securities Canada LTD. boosted its holdings in TC Energy by 1,163.3% in the 1st quarter. Mufg Securities Canada LTD. now owns 6,320,564 shares of the pipeline company’s stock valued at $289,530,000 after purchasing an additional 5,820,248 shares during the period. UBS Group AG boosted its holdings in TC Energy by 225.2% in the 1st quarter. UBS Group AG now owns 1,039,676 shares of the pipeline company’s stock valued at $47,564,000 after purchasing an additional 719,979 shares during the period. Atria Investments LLC bought a new stake in TC Energy in the 2nd quarter valued at about $1,112,000. Cidel Asset Management Inc. boosted its holdings in TC Energy by 12.5% in the 1st quarter. Cidel Asset Management Inc. now owns 1,207,585 shares of the pipeline company’s stock valued at $55,352,000 after purchasing an additional 134,293 shares during the period. Finally, Eudaimonia Partners LLC boosted its holdings in TC Energy by 65.3% in the 1st quarter. Eudaimonia Partners LLC now owns 1,284 shares of the pipeline company’s stock valued at $59,000 after purchasing an additional 507 shares during the period. 69.40% of the stock is owned by hedge funds and other institutional investors.
TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, July 29th. The pipeline company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.11. TC Energy had a net margin of 16.25% and a return on equity of 14.84%. The firm had revenue of $2.59 billion for the quarter. Equities analysts expect that TC Energy will post 3.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Thursday, September 30th will be paid a $0.6917 dividend. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $2.77 dividend on an annualized basis and a yield of 5.78%. TC Energy’s dividend payout ratio (DPR) is currently 91.72%.
TC Energy Company Profile
TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Storage, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.
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