Brokerages Set TC Energy Corporation (NYSE:TRP) Target Price at $77.00

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $78.50.

A number of equities research analysts have commented on TRP shares. Weiss Ratings raised TC Energy from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, April 21st. Morgan Stanley reissued an “overweight” rating on shares of TC Energy in a report on Wednesday, January 28th. Wells Fargo & Company reissued an “overweight” rating on shares of TC Energy in a report on Monday, February 16th. Wall Street Zen raised TC Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Finally, Canadian Imperial Bank of Commerce raised TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Thursday, April 23rd.

TC Energy Price Performance

TC Energy stock opened at $66.04 on Tuesday. TC Energy has a one year low of $46.29 and a one year high of $67.31. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63. The business has a fifty day moving average of $63.11 and a two-hundred day moving average of $57.83. The company has a market cap of $68.80 billion, a P/E ratio of 28.66 and a beta of 0.67.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. TC Energy had a return on equity of 10.77% and a net margin of 22.22%.The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company earned $0.95 earnings per share. As a group, analysts predict that TC Energy will post 2.76 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s payout ratio is 109.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wealthstar Advisors LLC raised its stake in shares of TC Energy by 1.5% during the 1st quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company’s stock worth $718,000 after buying an additional 165 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its stake in shares of TC Energy by 2.0% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock worth $544,000 after buying an additional 200 shares during the last quarter. Gold Investment Management Ltd. raised its stake in shares of TC Energy by 2.0% during the 4th quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock worth $549,000 after buying an additional 200 shares during the last quarter. Kingswood Wealth Advisors LLC raised its stake in shares of TC Energy by 2.8% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock worth $399,000 after buying an additional 202 shares during the last quarter. Finally, Kennebec Savings Bank raised its stake in shares of TC Energy by 2.1% during the 4th quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock worth $542,000 after buying an additional 203 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

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.