TC Energy Co. (NYSE:TRP) Given Consensus Recommendation of "Hold" by Brokerages

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

TRP has been the subject of a number of recent research reports. Morgan Stanley upgraded shares of TC Energy from an "underweight" rating to an "overweight" rating in a report on Friday, October 25th. StockNews.com assumed coverage on shares of TC Energy in a research report on Monday. They issued a "hold" rating for the company. Veritas raised shares of TC Energy to a "strong sell" rating in a research note on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a "sell" rating in a research note on Monday, October 21st. Finally, UBS Group raised shares of TC Energy from a "neutral" rating to a "buy" rating in a research note on Monday, September 30th.

Institutional Investors Weigh In On TC Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EdgeRock Capital LLC acquired a new stake in shares of TC Energy during the second quarter worth $25,000. 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 worth $28,000 after buying an additional 429 shares during the period. Fortitude Family Office LLC bought a new stake in shares of TC Energy during the 3rd quarter worth about $28,000. Blue Trust Inc. boosted 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 worth $30,000 after buying an additional 267 shares during the period. Finally, Mather Group LLC. bought a new stake in shares of TC Energy during the 2nd quarter worth about $33,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Price Performance

Shares of TC Energy stock traded down $0.07 on Tuesday, hitting $49.83. The company had a trading volume of 2,464,912 shares, compared to its average volume of 3,073,840. TC Energy has a 52 week low of $31.83 and a 52 week high of $50.22. The company has a market cap of $51.72 billion, a PE ratio of 13.86, a PEG ratio of 4.12 and a beta of 0.81. The business has a 50-day simple moving average of $46.93 and a 200-day simple moving average of $42.92. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $2.83 billion. Research analysts expect that TC Energy will post 2.98 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from TC Energy's previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a yield of 6.60%. TC Energy's dividend payout ratio (DPR) is 67.31%.

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.