TC Energy Corporation (NYSE:TRP) Stock Has Consensus Target Price of $92.00

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have received a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $93.75.

Several equities research analysts recently issued reports on TRP shares. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce set a $99.00 price objective on shares of TC Energy in a research note on Thursday. The Goldman Sachs Group raised shares of TC Energy from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Wednesday, September 30th. TD upgraded shares of TC Energy to a “buy” rating in a research report on Tuesday, September 15th. Finally, Royal Bank Of Canada reaffirmed a “moderate buy” rating and set a $106.00 target price on shares of TC Energy in a research note on Friday, September 11th.

Institutional Investors Weigh In On TC Energy

Several hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC bought a new stake in TC Energy during the 1st quarter worth $26,000. Trust Co. of Vermont bought a new position in TC Energy in the second quarter valued at about $33,000. Halbert Hargrove Global Advisors LLC bought a new position in TC Energy in the third quarter valued at about $35,000. Aberdeen Wealth Management LLC bought a new position in TC Energy in the second quarter valued at about $51,000. Finally, Ascentis Independent Advisors acquired a new stake in shares of TC Energy during the first quarter valued at about $49,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Stock Performance

TC Energy stock opened at $62.50 on Tuesday. TC Energy has a 12-month low of $49.27 and a 12-month 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 business’s 50-day moving average price is $61.26 and its two-hundred day moving average price is $63.39. The stock has a market cap of $62.50 billion, a PE ratio of 25.93 and a beta of 0.70.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%. During the same quarter in the previous year, the firm earned $0.82 earnings per share. As a group, analysts expect that TC Energy will post 2.78 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, October 30th. Stockholders of record on Tuesday, September 29th will be paid a C$0.88 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Tuesday, September 29th. TC Energy’s dividend payout ratio is presently 104.98%.

TC Energy Company Profile

TC Energy Corporation (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas pipelines, storage facilities, power-generation assets and related energy infrastructure. Its natural gas pipeline network connects major supply basins with utilities, power producers, industrial customers and local distribution companies.

The company’s operations are primarily located in Canada and the United States, with additional natural gas pipeline interests in Mexico.