TC Energy Corporation (NYSE:TRP) Receives $84.00 Consensus PT from Analysts

TC Energy Corporation (NYSE:TRP) (TSE:TRP) has been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $84.00.

Several research firms have weighed in on TRP. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a report on Monday, December 29th. Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a research report on Thursday, November 20th. TD Securities reiterated a “buy” rating on shares of TC Energy in a research report on Friday, October 17th. Royal Bank Of Canada increased their target price on TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th.

Institutional Trading of TC Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Trust Co. of Vermont acquired a new position in shares of TC Energy during the fourth quarter worth about $28,000. Hilltop National Bank bought a new stake in TC Energy in the 2nd quarter valued at approximately $32,000. Westside Investment Management Inc. boosted its position in TC Energy by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 297 shares during the last quarter. SWAN Capital LLC bought a new position in shares of TC Energy during the 3rd quarter worth approximately $40,000. Finally, Harbor Asset Planning Inc. acquired a new stake in shares of TC Energy in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Up 1.9%

TC Energy stock opened at $54.99 on Friday. The firm has a market capitalization of $57.23 billion, a price-to-earnings ratio of 23.70 and a beta of 0.72. The company’s 50 day simple moving average is $54.52 and its 200 day simple moving average is $52.19. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.63 and a quick ratio of 0.56. TC Energy has a fifty-two week low of $43.51 and a fifty-two week high of $56.34.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period last year, the business posted $1.03 earnings per share. As a group, sell-side analysts anticipate that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.40 annualized dividend and a yield of 6.2%. This is an increase from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s payout ratio is presently 106.90%.

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.