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

Shares of TC Energy Co. (NYSE:TRPGet Free Report) (TSE:TRP) have earned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $56.50.

A number of research analysts have commented on the company. TheStreet cut TC Energy from a “c” rating to a “d+” rating in a research note on Wednesday, November 8th. StockNews.com initiated coverage on TC Energy in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Stifel Nicolaus initiated coverage on TC Energy in a research report on Thursday, January 18th. They set a “buy” rating on the stock. Wells Fargo & Company raised TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, October 25th. Finally, Wolfe Research raised TC Energy from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, October 17th.

View Our Latest Stock Analysis on TRP

Institutional Investors Weigh In On TC Energy

A number of hedge funds have recently added to or reduced their stakes in TRP. Bank of Montreal Can acquired a new stake in TC Energy in the second quarter valued at about $2,243,924,000. Norges Bank acquired a new stake in TC Energy in the fourth quarter valued at about $519,894,000. National Bank of Canada FI lifted its position in TC Energy by 68.2% in the third quarter. National Bank of Canada FI now owns 19,993,928 shares of the pipeline company’s stock valued at $668,801,000 after purchasing an additional 8,103,785 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of TC Energy by 70.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock valued at $569,058,000 after acquiring an additional 6,840,000 shares during the period. Finally, MUFG Securities EMEA plc acquired a new stake in shares of TC Energy during the 2nd quarter valued at approximately $226,667,000. Institutional investors and hedge funds own 73.67% of the company’s stock.

TC Energy Trading Down 1.5 %

TRP opened at $38.42 on Thursday. TC Energy has a one year low of $32.51 and a one year high of $43.48. The stock has a market capitalization of $39.86 billion, a PE ratio of -640.33, a P/E/G ratio of 3.22 and a beta of 0.81. The business’s 50 day moving average price is $38.63 and its 200 day moving average price is $36.90. The company has a debt-to-equity ratio of 43.25, a quick ratio of 0.75 and a current ratio of 0.86.

TC Energy (NYSE:TRPGet Free Report) (TSE:TRP) last released its quarterly earnings results on Wednesday, November 8th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. TC Energy had a return on equity of 18.19% and a net margin of 0.10%. The company had revenue of $2.94 billion for the quarter, compared to analysts’ expectations of $2.76 billion. As a group, equities research analysts expect that TC Energy will post 3.14 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be paid a dividend of $0.67 per share. The ex-dividend date is Thursday, December 28th. This represents a $2.68 annualized dividend and a dividend yield of 6.98%. TC Energy’s dividend payout ratio (DPR) is -4,683.33%.

TC Energy Company Profile

(Get Free Report

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 93,700 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.

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Analyst Recommendations for TC Energy (NYSE:TRP)

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