TC Energy Co. (NYSE:TRP) Receives Consensus Rating of “Hold” from Brokerages

TC Energy Co. (NYSE:TRP) (TSE:TRP) has been assigned a consensus rating of “Hold” from the twelve research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $48.83.

Several analysts have commented on TRP shares. Barclays increased their target price on TC Energy from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Jefferies Financial Group began coverage on TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating for the company. The Goldman Sachs Group upped their target price on shares of TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, January 26th. Stifel Nicolaus initiated coverage on shares of TC Energy in a research note on Thursday, January 18th. They issued a “buy” rating for the company. Finally, TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th.

TC Energy Stock Performance

Shares of TC Energy stock opened at $37.87 on Friday. The stock has a market cap of $37.87 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 3.24 and a beta of 0.76. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. TC Energy has a 1 year low of $32.51 and a 1 year high of $42.42. The firm’s 50-day moving average is $38.42 and its 200 day moving average is $38.18.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.20. TC Energy had a net margin of 17.23% and a return on equity of 20.63%. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $2.93 billion. Sell-side analysts anticipate that TC Energy will post 2.9 EPS for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently announced 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. The ex-dividend date is Friday, June 28th. This represents a $2.84 annualized dividend and a yield of 7.50%. TC Energy’s dividend payout ratio (DPR) is 145.88%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. EdgeRock Capital LLC purchased a new position in TC Energy during the fourth quarter valued at $25,000. Bruce G. Allen Investments LLC bought a new position in shares of TC Energy in the fourth quarter worth about $26,000. Creekmur Asset Management LLC purchased a new position in shares of TC Energy during the 4th quarter valued at about $27,000. Glassman Wealth Services grew its stake in shares of TC Energy by 61.0% during the 4th quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 275 shares during the period. Finally, OLD Point Trust & Financial Services N A purchased a new stake in TC Energy in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

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.