Analysts Set TC Energy Co. (NYSE:TRP) PT at $43.50

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have received an average rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $43.50.

TRP has been the topic of a number of analyst reports. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com began coverage on shares of TC Energy in a research note on Saturday. They issued a “hold” rating on the stock. Finally, UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th.

Hedge Funds Weigh In On TC Energy

A number of hedge funds have recently bought and sold shares of TRP. Corient Private Wealth LLC raised its position in TC Energy by 25.3% in the 4th quarter. Corient Private Wealth LLC now owns 18,832 shares of the pipeline company’s stock worth $736,000 after buying an additional 3,808 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its position in shares of TC Energy by 21.9% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 11,317 shares of the pipeline company’s stock valued at $442,000 after purchasing an additional 2,032 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of TC Energy by 510.8% during the 4th quarter. Jones Financial Companies Lllp now owns 1,417 shares of the pipeline company’s stock valued at $55,000 after purchasing an additional 1,185 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of TC Energy by 3.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,532,919 shares of the pipeline company’s stock valued at $138,222,000 after purchasing an additional 132,947 shares during the last quarter. Finally, Eisler Capital UK Ltd. purchased a new stake in shares of TC Energy during the 4th quarter valued at about $1,267,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of TC Energy stock opened at $45.11 on Monday. The stock has a market cap of $46.81 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 3.57 and a beta of 0.81. The firm’s 50-day moving average is $45.17 and its 200 day moving average is $40.80. TC Energy has a 1 year low of $32.56 and a 1 year high of $48.42. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same quarter in the previous year, the business posted $0.71 EPS. Sell-side analysts anticipate that TC Energy will post 3.08 EPS for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a $0.702 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date of this dividend is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is 146.91%.

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.