Analysts Set TC Energy Corporation (NYSE:TRP) Target Price at $84.00

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $84.00.

A number of brokerages have commented on TRP. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a research report on Monday, December 29th. BMO Capital Markets upgraded TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, November 7th. Cibc Captl Mkts raised TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Finally, Citigroup restated a “neutral” rating on shares of TC Energy in a research report on Thursday, November 20th.

Institutional Investors Weigh In On TC Energy

A number of institutional investors have recently made changes to their positions in the stock. Pacifica Partners Inc. lifted its holdings in shares of TC Energy by 14.0% in the 3rd quarter. Pacifica Partners Inc. now owns 1,625 shares of the pipeline company’s stock worth $87,000 after acquiring an additional 200 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its position in TC Energy by 2.0% in the third quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock valued at $544,000 after purchasing an additional 200 shares during the period. Kingswood Wealth Advisors LLC lifted its stake in TC Energy by 2.8% during the third quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock worth $399,000 after purchasing an additional 202 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in shares of TC Energy by 3.4% in the third quarter. Checchi Capital Advisers LLC now owns 6,171 shares of the pipeline company’s stock valued at $336,000 after buying an additional 204 shares in the last quarter. Finally, Park Avenue Securities LLC raised its holdings in shares of TC Energy by 2.3% in the 2nd quarter. Park Avenue Securities LLC now owns 9,947 shares of the pipeline company’s stock valued at $485,000 after buying an additional 225 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

NYSE TRP opened at $54.24 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63. The stock’s fifty day moving average is $54.53 and its two-hundred day moving average is $52.16. The firm has a market capitalization of $56.46 billion, a P/E ratio of 23.38 and a beta of 0.72. TC Energy has a fifty-two week low of $43.51 and a fifty-two week high of $56.34.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $2.63 billion. TC Energy had a return on equity of 10.61% and a net margin of 23.86%.During the same quarter in the previous year, the firm earned $1.03 EPS. On average, research analysts anticipate that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 dividend on an annualized basis and a yield of 6.3%. TC Energy’s dividend payout ratio is currently 106.90%.

About TC Energy

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.