TC Energy Corporation (NYSE:TRP) Receives $72.50 Consensus Price Target from Brokerages

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have earned a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $72.50.

TRP has been the subject of several recent research reports. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. Morgan Stanley reiterated an “overweight” rating on shares of TC Energy in a report on Wednesday, January 28th. BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a research report on Tuesday, February 17th. Finally, National Bank Financial cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th.

TC Energy Price Performance

NYSE TRP opened at $63.75 on Monday. The company has a market cap of $66.38 billion, a PE ratio of 27.43 and a beta of 0.72. The firm’s 50 day moving average price is $59.54 and its 200-day moving average price is $55.37. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63. TC Energy has a 52-week low of $43.59 and a 52-week high of $65.57.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.94 billion. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Sell-side analysts forecast that TC Energy will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.85. This represents a $3.51 dividend on an annualized basis and a yield of 5.5%. TC Energy’s dividend payout ratio is currently 106.90%.

Hedge Funds Weigh In On TC Energy

Several institutional investors and hedge funds have recently bought and sold shares of TRP. Campbell & CO Investment Adviser LLC acquired a new position in TC Energy during the 3rd quarter valued at about $1,391,000. Advisors Asset Management Inc. boosted its holdings in TC Energy by 38.8% in the third quarter. Advisors Asset Management Inc. now owns 88,140 shares of the pipeline company’s stock worth $4,796,000 after acquiring an additional 24,617 shares in the last quarter. Norges Bank acquired a new stake in TC Energy in the second quarter worth about $493,434,000. Citigroup Inc. grew its stake in shares of TC Energy by 19.2% during the third quarter. Citigroup Inc. now owns 378,086 shares of the pipeline company’s stock worth $20,562,000 after acquiring an additional 61,013 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of TC Energy by 9.2% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,365,500 shares of the pipeline company’s stock valued at $74,297,000 after acquiring an additional 115,000 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Company Profile

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.