TC Energy Co. (NYSE:TRP) Receives Average “Holdback” Recommendation From Brokerages
Shares of TC Energy Co. (NYSE:TRP – Get Rating) (TSE:TRP) have been assigned a consensus rating of “Hold” by the seventeen rating agencies that cover the company, Marketbeat reports. Two investment analysts have assigned the stock a sell rating, eight have issued a hold rating and three have assigned the company a buy rating. The 1-year average price target among analysts who updated their coverage of the stock in the last year is $66.55.
Several analysts have recently weighed in on TRP shares. Raymond James downgraded TC Energy from a “strong buy” rating to an “outperform” rating in a Wednesday, February 16, report. US Capital Advisors downgraded TC Energy from an “overweight” rating to a “held” rating in a Friday, March 11 report. StockNews.com began covering TC Energy in a report on Thursday, March 31. They issued a “holding” rating for the company. Zacks Investment Research downgraded TC Energy from a “buy” rating to a “hold” rating and set a price target of $61.00 for the company. in a report on Monday, April 4. Finally, Wolfe Research downgraded TC Energy from a “peer performing” rating to an “underperforming” rating and raised its price target for the company from $53.00 to $57.00 in a report released Monday.
Several large investors have recently changed their positions in the company. MV Capital Management Inc. increased its position in TC Energy shares by 38.1% during the 4th quarter. MV Capital Management Inc. now owns 725 shares of the pipeline company valued at $34,000 after acquiring 200 more shares in the last quarter. Stonebridge Capital Advisors LLC increased its position in TC Energy shares by 11.0% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 2,027 shares of the pipeline company valued at $94,000 after acquiring 201 additional shares in the last quarter. Pacifica Partners Inc. increased its position in TC Energy shares by 0.7% during the 1st quarter. Pacifica Partners Inc. now owns 30,372 shares of the pipeline company valued at $1,649,000 after acquiring 220 additional shares in the last quarter. CLARET ASSET MANAGEMENT Corp increased its position in TC Energy shares by 2.2% during the 1st quarter. CLARET ASSET MANAGEMENT Corp now owns 12,104 shares of the pipeline company valued at $683,000 after acquiring 262 more shares in the last quarter. Finally, B. Riley Wealth Management Inc. increased its stake in TC Energy by 3.8% during the 4th quarter. B. Riley Wealth Management Inc. now owns 8,099 shares of the pipeline company valued at $377,000 after purchasing an additional 300 shares during the period. Institutional investors hold 68.61% of the company’s shares.
NYSE:TRP shares rose $0.55 during Friday trading, hitting $57.65. The company’s shares had a trading volume of 69,113 shares, compared to an average trading volume of 1,975,544 shares. The company has a debt ratio of 1.55, a quick ratio of 0.51 and a current ratio of 0.57. TC Energy has a fifty-two week low of $44.77 and a fifty-two week high of $59.06. The stock’s 50-day moving average price is $54.71 and its two-hundred-day moving average price is $51.32. The company has a market capitalization of $56.57 billion, a PE ratio of 38.07, a PEG ratio of 4.31 and a beta of 0.71.
TC Energy (NYSE:TRP – Get Rating) (TSE:TRP) last released its quarterly results on Tuesday, February 15. The pipeline company reported EPS of $0.84 for the quarter, meeting Thomson Reuters consensus estimate of $0.84. TC Energy had a return on equity of 14.77% and a net margin of 15.09%. The company posted revenue of $2.84 billion for the quarter, versus $3.57 billion expected by analysts. In the same quarter a year earlier, the company posted earnings per share of $0.88. On average, stock analysts predict that TC Energy will post earnings per share of 3.41 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 29. Shareholders of record on Thursday, March 31 will receive a dividend of $0.708. This represents a dividend of $2.83 on an annualized basis and a yield of 4.91%. This is an increase from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Wednesday, March 30. TC Energy’s dividend payout ratio is 192.00%.
TC Energy Company Profile (Get an evaluation)
TC Energy Corporation is an energy infrastructure company in North America. It operates through five segments: Canadian Gas Pipelines; American gas pipelines; Mexican gas pipelines; Liquid pipelines; and power and storage. The company builds and operates a 93,300 km pipeline network, which transports natural gas from supply basins to local distribution companies, power plants, industrial facilities, interconnecting pipelines, export terminals LNG and other companies.
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