TC Energy Co. (NYSE:TRP) Given Average Recommendation of “Hold” by Brokerages

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have been given an average recommendation of “Hold” by the twelve analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $48.83.

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

Institutional Investors Weigh In On TC Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. TD Asset Management Inc lifted its stake in shares of TC Energy by 9.5% in the 1st quarter. TD Asset Management Inc now owns 16,763,150 shares of the pipeline company’s stock valued at $674,366,000 after purchasing an additional 1,458,732 shares during the period. Bleakley Financial Group LLC raised its position in shares of TC Energy by 8.8% in the first quarter. Bleakley Financial Group LLC now owns 124,228 shares of the pipeline company’s stock worth $4,994,000 after acquiring an additional 10,044 shares during the period. Russell Investments Group Ltd. raised its position in shares of TC Energy by 0.3% in the first quarter. Russell Investments Group Ltd. now owns 1,262,444 shares of the pipeline company’s stock worth $50,785,000 after acquiring an additional 3,801 shares during the period. Headlands Technologies LLC grew its position in shares of TC Energy by 49,890.3% during the 1st quarter. Headlands Technologies LLC now owns 15,497 shares of the pipeline company’s stock valued at $623,000 after acquiring an additional 15,466 shares during the period. Finally, Atomi Financial Group Inc. acquired a new stake in shares of TC Energy during the 1st quarter valued at about $219,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Up 1.0 %

NYSE TRP opened at $37.87 on Friday. The firm has a market cap of $37.87 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 3.24 and a beta of 0.76. TC Energy has a 52 week low of $32.51 and a 52 week high of $42.42. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 1.65. The company has a 50 day moving average price of $38.42 and a 200 day moving average price of $38.18.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. TC Energy had a return on equity of 20.63% and a net margin of 17.23%. The firm had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.93 billion. As a group, sell-side analysts forecast that TC Energy will post 2.9 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 7.50%. The ex-dividend date is Friday, June 28th. TC Energy’s dividend payout ratio is currently 145.88%.

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.