Analysts Set TC Energy Co. (NYSE:TRP) Price Target at $55.67

Shares of TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP have been given a consensus rating of "Hold" by the nine brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $55.67.

A number of brokerages have recently weighed in on TRP. JPMorgan Chase & Co. upgraded TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. StockNews.com assumed coverage on TC Energy in a report on Wednesday, December 4th. They set a "hold" rating for the company. Morgan Stanley raised TC Energy from an "underweight" rating to an "overweight" rating in a report on Friday, October 25th. UBS Group raised shares of TC Energy from a "neutral" rating to a "buy" rating in a report on Monday, September 30th. Finally, BMO Capital Markets boosted their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 20th.

TC Energy Price Performance

NYSE TRP traded up $0.01 during trading hours on Wednesday, reaching $47.78. The company's stock had a trading volume of 1,259,612 shares, compared to its average volume of 1,416,501. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $49.63 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 3.88 and a beta of 0.82. The firm's 50-day moving average price is $47.70 and its 200-day moving average price is $45.19.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, equities research analysts predict 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. Investors of record on Tuesday, December 31st will be given a $0.822 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase from TC Energy's previous quarterly dividend of $0.70. This represents a $3.29 dividend on an annualized basis and a yield of 6.88%. TC Energy's dividend payout ratio (DPR) is currently 67.31%.

Institutional Trading of TC Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new position in shares of TC Energy during the third quarter valued at approximately $28,000. Blue Trust Inc. grew its position in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock valued at $30,000 after acquiring an additional 267 shares during the last quarter. Versant Capital Management Inc purchased a new stake in TC Energy in the fourth quarter worth $33,000. Point72 DIFC Ltd bought a new stake in shares of TC Energy during the third quarter worth $39,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of TC Energy during the second quarter valued at $51,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

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.