TC Energy Co. (NYSE:TRP) Given Average Recommendation of “Hold” by Brokerages

TC Energy Co. (NYSE:TRP) (TSE:TRP) has been given a consensus rating of “Hold” by the twelve ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $48.83.

A number of analysts recently issued reports on TRP shares. Stifel Nicolaus began coverage on shares of TC Energy in a report on Thursday, January 18th. They set a “buy” rating on the stock. Barclays increased their price target on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. The Goldman Sachs Group boosted their price objective on TC Energy from $29.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, January 26th. TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Finally, Jefferies Financial Group initiated coverage on shares of TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating on the stock.

TC Energy Price Performance

NYSE TRP opened at $36.00 on Tuesday. TC Energy has a 1 year low of $32.51 and a 1 year high of $42.49. The company has a market cap of $36 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 3.02 and a beta of 0.75. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. The stock’s fifty day moving average price is $39.25 and its 200 day moving average price is $37.97.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, February 16th. The pipeline company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. As a group, equities research analysts forecast that TC Energy will post 2.99 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.714 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.86 dividend on an annualized basis and a yield of 7.93%. TC Energy’s dividend payout ratio (DPR) is presently 139.41%.

Institutional Trading of TC Energy

Several large investors have recently added to or reduced their stakes in TRP. EdgeRock Capital LLC acquired a new position in shares of TC Energy during the 4th quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of TC Energy in the 4th quarter valued at approximately $26,000. Creekmur Asset Management LLC acquired a new stake in shares of TC Energy during the 4th quarter worth approximately $27,000. Glassman Wealth Services raised its position in shares of TC Energy by 61.0% during the 4th quarter. Glassman Wealth Services now owns 726 shares of the pipeline company’s stock valued at $28,000 after buying an additional 275 shares during the period. Finally, OLD Point Trust & Financial Services N A acquired a new position in TC Energy in the fourth quarter valued at approximately $31,000. 83.13% of the stock is currently 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.