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

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have received an average recommendation of “Hold” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $43.50.

Several brokerages have recently issued reports on TRP. StockNews.com began coverage on shares of TC Energy in a report on Saturday. They issued a “hold” rating on the stock. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Finally, Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th.

Institutional Trading of TC Energy

A number of hedge funds have recently modified their holdings of TRP. EdgeRock Capital LLC bought a new stake in shares of TC Energy during the 2nd quarter valued at $25,000. Creekmur Asset Management LLC bought a new stake in shares of TC Energy during the 4th quarter valued at $27,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after buying an additional 429 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new stake in shares of TC Energy during the 4th quarter valued at $31,000. Finally, Mather Group LLC. bought a new stake in shares of TC Energy during the 2nd quarter valued at $33,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Up 1.7 %

Shares of TC Energy stock opened at $45.11 on Monday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. TC Energy has a 52-week low of $32.56 and a 52-week high of $48.42. The stock has a market capitalization of $46.81 billion, a price-to-earnings ratio of 23.25, a P/E/G ratio of 3.57 and a beta of 0.81. The company’s 50 day moving average price is $45.17 and its 200-day moving average price is $40.80.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter last year, the business earned $0.71 earnings per share. Equities research analysts forecast that TC Energy will post 3.08 EPS for the current year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a dividend of $0.702 per share. This represents a $2.81 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date is Friday, September 27th. TC Energy’s payout ratio is currently 146.91%.

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.