TC Energy Corporation (NYSE:TRP) Receives $89.00 Consensus PT from Analysts

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have been assigned an average rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $89.00.

A number of research analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. Barclays reissued an “overweight” rating on shares of TC Energy in a research report on Thursday, July 16th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Royal Bank Of Canada increased their price objective on TC Energy from $104.00 to $106.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, Morgan Stanley lowered shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 10th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. FIL Ltd grew its position in TC Energy by 3.9% in the 4th quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock valued at $1,558,669,000 after buying an additional 1,052,166 shares during the last quarter. TD Asset Management Inc raised its position in TC Energy by 6.3% during the 4th quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock worth $1,150,656,000 after buying an additional 1,244,525 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of TC Energy in the 2nd quarter worth $1,148,244,000. GQG Partners LLC acquired a new stake in shares of TC Energy in the 2nd quarter worth $1,107,936,000. Finally, Deutsche Bank AG lifted its stake in shares of TC Energy by 1.3% in the 2nd quarter. Deutsche Bank AG now owns 15,821,521 shares of the pipeline company’s stock worth $1,048,809,000 after acquiring an additional 196,543 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Trading Down 0.0%

TRP opened at $62.60 on Monday. TC Energy has a 52 week low of $49.27 and a 52 week high of $71.47. The business has a fifty day simple moving average of $65.67 and a 200-day simple moving average of $65.40. The firm has a market cap of $62.60 billion, a P/E ratio of 25.98 and a beta of 0.66. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. On average, equities analysts expect that TC Energy will post 2.78 earnings per share for the current year.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be paid a dividend of $0.8775 per share. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 dividend on an annualized basis and a yield of 5.6%. TC Energy’s dividend payout ratio is currently 102.49%.

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.