TC Energy Corporation (NYSE:TRP) Stock Has Consensus Price Target of $89.00 According to Analysts

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have received an average recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $89.00.

Several research analysts have commented on the stock. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Royal Bank Of Canada reissued a “moderate buy” rating and issued a $106.00 price target on shares of TC Energy in a research note on Friday, September 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TC Energy in a research note on Friday, July 31st. Finally, TD Securities upgraded TC Energy from a “hold” rating to a “buy” rating in a report on Monday, September 14th.

TC Energy Stock Down 1.0%

TRP opened at $59.61 on Friday. The business’s fifty day simple moving average is $63.87 and its 200 day simple moving average is $65.20. TC Energy has a 52 week low of $49.27 and a 52 week high of $71.47. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. The stock has a market cap of $59.61 billion, a PE ratio of 24.73 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.During the same period in the prior year, the company earned $0.82 EPS. As a group, research analysts expect that TC Energy will post 2.79 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be paid a dividend of C$0.88 per share. This represents a $3.51 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy’s dividend payout ratio is 102.49%.

Institutional Trading of TC Energy

Several large investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. raised its holdings in TC Energy by 27.8% in the 2nd quarter. QRG Capital Management Inc. now owns 5,506 shares of the pipeline company’s stock worth $365,000 after purchasing an additional 1,197 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in TC Energy by 1.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,946 shares of the pipeline company’s stock worth $1,519,000 after buying an additional 257 shares during the period. Envestnet Asset Management Inc. boosted its position in TC Energy by 39.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,878,251 shares of the pipeline company’s stock valued at $124,481,000 after acquiring an additional 535,279 shares in the last quarter. Wellington Altus USA Inc. raised its position in shares of TC Energy by 24.1% in the 2nd quarter. Wellington Altus USA Inc. now owns 5,255 shares of the pipeline company’s stock worth $351,000 after acquiring an additional 1,020 shares in the last quarter. Finally, Core Capital Management & Research inc. purchased a new position in shares of TC Energy in the 2nd quarter valued at approximately $91,000. Institutional investors own 83.13% of the company’s stock.

About TC Energy

TC Energy Corporation is an energy infrastructure company that develops and operates natural gas pipeline, storage and power-generation assets. Its natural gas pipeline network connects major supply basins with utilities, power generators, industrial customers and export markets, while its storage facilities help support the reliability and flexibility of energy systems.

The company serves customers across Canada, the United States and Mexico. Its operations include regulated and contracted natural gas transportation, natural gas storage, and nuclear and other power-generation activities.