TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP has been assigned an average rating of "Hold" from the nine analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $55.67.
A number of research firms have weighed in on TRP. The Goldman Sachs Group upped their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a "sell" rating in a research report on Monday, October 21st. Morgan Stanley raised shares of TC Energy from an "underweight" rating to an "overweight" rating in a research note on Friday, October 25th. StockNews.com initiated coverage on TC Energy in a research note on Wednesday, December 4th. They set a "hold" rating for the company. JPMorgan Chase & Co. upgraded TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. Finally, BMO Capital Markets boosted their price target on TC Energy from $66.00 to $70.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 20th.
Check Out Our Latest Stock Analysis on TRP
TC Energy Stock Performance
NYSE:TRP traded down $0.31 during mid-day trading on Friday, hitting $46.47. The company's stock had a trading volume of 5,936,294 shares, compared to its average volume of 3,044,786. The business's fifty day moving average is $47.74 and its two-hundred day moving average is $44.18. The stock has a market cap of $48.23 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 3.95 and a beta of 0.82. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37. 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 released its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. Analysts anticipate that TC Energy will post 3 EPS for the current fiscal year.
TC Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a dividend yield of 7.08%. This is an increase from TC Energy's previous quarterly dividend of $0.70. The ex-dividend date is Tuesday, December 31st. TC Energy's payout ratio is 67.31%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. EdgeRock Capital LLC acquired a new position in shares of TC Energy in the second quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. boosted its position in TC Energy by 138.8% in 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 during the period. Fortitude Family Office LLC acquired a new position in shares of TC Energy in the third quarter worth $28,000. Blue Trust Inc. increased its position in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock worth $30,000 after acquiring an additional 267 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in shares of TC Energy in the third quarter valued at $39,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.
About TC Energy
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Get Free ReportTC 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.
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