TC Energy Corporation (NYSE:TRP) Stock Has Average Price Target of $93.75 According to Analysts

Key Points

• Analyst sentiment is broadly positive: TC Energy has a “Moderate Buy” consensus from 16 analysts, with an average 12-month price target of $93.75.
• The company beat quarterly expectations, reporting earnings of $0.67 per share versus the $0.64 consensus and revenue of $2.88 billion versus $2.79 billion.
• TC Energy announced a quarterly dividend of C$0.88 per share, equivalent to an annualized yield of about 5.4%.

TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP has received a consensus rating of "Moderate Buy" from the sixteen ratings firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $93.75.

A number of research analysts have recently commented on TRP shares. Royal Bank Of Canada reissued a "moderate buy" rating and set a $106.00 price objective on shares of TC Energy in a report on Friday, September 11th. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 20th. Weiss Ratings reissued a "buy (b)" rating on shares of TC Energy in a research note on Thursday, October 29th. Scotiabank reiterated an "outperform" rating on shares of TC Energy in a research report on Tuesday, July 21st. Finally, Jefferies Financial Group raised shares of TC Energy from a "hold" rating to a "buy" rating in a research note on Tuesday, September 1st.

Hedge Funds Weigh In On TC Energy

Several large investors have recently made changes to their positions in TRP. Ontario Teachers Pension Plan Board bought a new position in shares of TC Energy during the second quarter worth about $273,917,000. Korea Investment CORP acquired a new stake in TC Energy in the 2nd quarter valued at approximately $30,152,000. Wellington Management Group LLP bought a new stake in TC Energy in the 2nd quarter valued at approximately $7,450,000. Canada Pension Plan Investment Board bought a new stake in TC Energy in the 2nd quarter valued at approximately $1,148,244,000. Finally, Chickasaw Capital Management LLC lifted its stake in TC Energy by 2,473.7% in the 3rd quarter. Chickasaw Capital Management LLC now owns 200,849 shares of the pipeline company's stock valued at $11,605,000 after acquiring an additional 193,045 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Price Performance

TRP stock traded up $0.22 on Friday, hitting $64.75. 1,602,546 shares of the company's stock traded hands, compared to its average volume of 2,284,029. The company has a current ratio of 0.57, a quick ratio of 0.49 and a debt-to-equity ratio of 1.61. The stock has a market cap of $64.75 billion, a price-to-earnings ratio of 24.07 and a beta of 0.64. TC Energy has a 1-year low of $52.71 and a 1-year high of $71.47. The stock has a fifty day moving average of $61.48 and a 200-day moving average of $64.04.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Thursday, November 5th. The pipeline company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.03. TC Energy had a return on equity of 11.67% and a net margin of 25.05%. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. On average, analysts forecast that TC Energy will post 2.81 EPS for the current fiscal year.

TC Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Thursday, December 31st will be paid a C$0.88 dividend. This represents a $3.51 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Thursday, December 31st. TC Energy's dividend payout ratio (DPR) is 94.05%.

About TC Energy

TC Energy NYSE: TRP is a North American energy infrastructure company that develops and operates natural gas and liquids pipelines, natural gas storage facilities, and power-generation assets. Its services help transport and store energy for producers, utilities, businesses, and consumers. The company's pipeline network spans Canada, the United States, and Mexico. Its power-generation portfolio includes an interest in Bruce Power, which operates a nuclear generating station in Ontario. Founded as TransCanada Corporation, the company adopted the TC Energy name in 2019.

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