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

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have earned a consensus rating of “Hold” from the eight research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $48.50.

TRP has been the subject of a number of research reports. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. StockNews.com initiated coverage on shares of TC Energy in a report on Monday. They set a “hold” rating for the company. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Finally, UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th.

Institutional Investors Weigh In On TC Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. TD Private Client Wealth LLC increased its stake in TC Energy by 2.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 65,595 shares of the pipeline company’s stock worth $3,122,000 after buying an additional 1,676 shares during the period. Geode Capital Management LLC grew its stake in TC Energy by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock worth $225,890,000 after acquiring an additional 360,548 shares in the last quarter. Executive Wealth Management LLC purchased a new position in shares of TC Energy during the third quarter worth approximately $443,000. Duff & Phelps Investment Management Co. raised its stake in shares of TC Energy by 70.7% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock valued at $83,874,000 after acquiring an additional 730,415 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of TC Energy by 19.9% in the third quarter. Barclays PLC now owns 528,528 shares of the pipeline company’s stock valued at $25,132,000 after purchasing an additional 87,885 shares during the period. 83.13% of the stock is owned by institutional investors.

TC Energy Price Performance

NYSE:TRP opened at $49.90 on Tuesday. The stock has a market cap of $51.79 billion, a PE ratio of 13.82, a P/E/G ratio of 4.12 and a beta of 0.81. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The business’s 50-day simple moving average is $46.93 and its two-hundred day simple moving average is $42.92. TC Energy has a 52 week low of $31.83 and a 52 week high of $50.22.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. As a group, analysts forecast that TC Energy will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.822 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a dividend yield of 6.59%. TC Energy’s dividend payout ratio is currently 78.95%.

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.