Analysts Set TC Energy Co. (NYSE:TRP) Price Target at $48.50

Shares of TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP have earned a consensus rating of "Hold" from the eight analysts that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $48.50.

Several analysts recently issued reports on TRP shares. Barclays raised TC Energy from an "equal weight" rating to an "overweight" rating in a report on Wednesday, July 17th. StockNews.com began coverage on shares of TC Energy in a report on Saturday, October 5th. They set a "hold" rating for the company. Veritas raised shares of TC Energy to a "strong sell" rating in a report on Tuesday, October 8th. The Goldman Sachs Group lifted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a research report on Monday. Finally, UBS Group upgraded shares of TC Energy from a "neutral" rating to a "buy" rating in a research report on Monday, September 30th.

TC Energy Stock Up 0.6 %

NYSE:TRP traded up $0.27 on Friday, reaching $47.26. The stock had a trading volume of 1,364,789 shares, compared to its average volume of 3,184,181. The company has a 50-day moving average of $46.14 and a 200 day moving average of $41.44. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The stock has a market cap of $47.26 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. TC Energy has a 12-month low of $30.61 and a 12-month high of $48.25.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.29. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same quarter last year, the company earned $0.71 earnings per share. On average, research analysts predict that TC Energy will post 3.02 earnings per share for the current year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a $0.702 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.81 annualized dividend and a dividend yield of 5.94%. TC Energy's dividend payout ratio (DPR) is presently 146.39%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC raised its holdings in shares of TC Energy by 1.6% during the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company's stock worth $621,000 after acquiring an additional 261 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock valued at $30,000 after buying an additional 267 shares during the last quarter. Windsor Advisory Group LLC grew its stake in shares of TC Energy by 2.5% in the 1st quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company's stock valued at $516,000 after buying an additional 316 shares in the last quarter. Mount Yale Investment Advisors LLC increased its holdings in TC Energy by 1.9% in the first quarter. Mount Yale Investment Advisors LLC now owns 19,873 shares of the pipeline company's stock worth $799,000 after buying an additional 364 shares during the last quarter. Finally, Gold Investment Management Ltd. increased its holdings in TC Energy by 4.6% in the first quarter. Gold Investment Management Ltd. now owns 9,230 shares of the pipeline company's stock worth $371,000 after buying an additional 403 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Company Profile

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.