Analysts Set TC Energy Corporation (NYSE:TRP) Price Target at $72.50

TC Energy Corporation (NYSE:TRP) (TSE:TRP) has been given an average rating of “Hold” by the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $72.50.

A number of research firms have weighed in on TRP. Wells Fargo & Company reissued an “overweight” rating on shares of TC Energy in a report on Monday, February 16th. Raymond James Financial raised shares of TC Energy to a “hold” rating in a research report on Tuesday, February 17th. BMO Capital Markets reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, February 17th. National Bank Financial downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Royal Bank Of Canada boosted their target price on shares of TC Energy from $84.00 to $92.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th.

TC Energy Trading Down 0.0%

NYSE:TRP opened at $63.34 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.66. TC Energy has a 12 month low of $43.59 and a 12 month high of $65.57. The company has a market cap of $65.98 billion, a PE ratio of 27.25 and a beta of 0.69. The company has a 50 day simple moving average of $62.28 and a two-hundred day simple moving average of $56.66.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the firm earned $1.05 EPS. Research analysts forecast that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.8775 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.51 annualized dividend and a dividend yield of 5.5%. This is a boost from TC Energy’s previous quarterly dividend of $0.85. TC Energy’s dividend payout ratio is 110.78%.

Institutional Investors Weigh In On TC Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. GQG Partners LLC lifted its position in TC Energy by 586.5% during the fourth quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock valued at $890,711,000 after purchasing an additional 13,801,371 shares in the last quarter. Norges Bank purchased a new stake in TC Energy in the fourth quarter worth about $583,732,000. Deutsche Bank AG increased its position in TC Energy by 63.2% in the fourth quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company’s stock worth $846,288,000 after buying an additional 5,956,263 shares in the last quarter. American Century Companies Inc. raised its stake in shares of TC Energy by 514.5% in the third quarter. American Century Companies Inc. now owns 6,491,799 shares of the pipeline company’s stock worth $352,976,000 after buying an additional 5,435,310 shares during the period. Finally, Public Sector Pension Investment Board raised its stake in shares of TC Energy by 2,573.3% in the second quarter. Public Sector Pension Investment Board now owns 2,680,572 shares of the pipeline company’s stock worth $130,600,000 after buying an additional 2,580,300 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

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.