Shares of TC Energy Corporation (NYSE:TRP – Get Free Report) (TSE:TRP) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $78.50.
TRP has been the topic of a number of recent analyst reports. BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. Barclays restated an “overweight” rating on shares of TC Energy in a research note on Monday, May 4th. Morgan Stanley lowered shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 10th. The Goldman Sachs Group upgraded shares of TC Energy from a “sell” rating to a “neutral” rating and upped their price target for the company from $53.00 to $62.00 in a research note on Monday, April 20th. Finally, Weiss Ratings lowered shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 4th.
Get Our Latest Stock Analysis on TC Energy
TC Energy Trading Up 1.6%
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last posted its quarterly earnings data on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. During the same quarter in the previous year, the business posted $0.95 EPS. As a group, sell-side analysts forecast that TC Energy will post 2.75 EPS for the current fiscal year.
TC Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a yield of 5.1%. TC Energy’s dividend payout ratio is presently 109.57%.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of TRP. Annis Gardner Whiting Capital Advisors LLC acquired a new position in TC Energy during the 4th quarter valued at approximately $25,000. Sterling Capital Management LLC purchased a new stake in shares of TC Energy in the 1st quarter valued at $26,000. Trust Co. of Vermont purchased a new stake in shares of TC Energy in the 4th quarter valued at $28,000. McIlrath & Eck LLC purchased a new stake in shares of TC Energy in the 4th quarter valued at $32,000. Finally, SWAN Capital LLC purchased a new stake in shares of TC Energy in the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 83.13% of the company’s stock.
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.
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