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

Key Points

• Analysts rate TC Energy a “Moderate Buy”: 12 of 16 analysts recommend buying the stock, with an average 12-month price target of $92, substantially above its reported $60.75 share price.
• TC Energy exceeded quarterly expectations, reporting $0.68 earnings per share versus the $0.61 consensus and revenue of $2.80 billion versus estimates of $2.76 billion.
• The company declared a quarterly dividend of C$0.88, representing an annualized dividend of C$3.51 and a 5.8% yield; institutional investors own 83.13% of the stock.

Shares of TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP have earned an average recommendation of "Moderate Buy" from the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. Three investment 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 12-month price target among brokerages that have updated their coverage on the stock in the last year is $92.00.

A number of analysts have recently commented on the company. Weiss Ratings reissued a "buy (b)" rating on shares of TC Energy in a research note on Friday, July 31st. BMO Capital Markets restated an "outperform" rating and set a $99.00 price target on shares of TC Energy in a report on Friday, July 31st. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a research note on Thursday, July 16th. Royal Bank Of Canada reiterated a "moderate buy" rating and issued a $106.00 price objective on shares of TC Energy in a report on Friday, September 11th. Finally, TD upgraded shares of TC Energy to a "buy" rating in a research report on Tuesday, September 15th.

TC Energy Trading Down 1.6%

NYSE TRP opened at $60.75 on Tuesday. 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 has a twelve month low of $49.27 and a twelve month high of $71.47. The company has a market cap of $60.75 billion, a price-to-earnings ratio of 25.21 and a beta of 0.70. The business's fifty day moving average is $61.36 and its 200 day moving average is $64.74.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.07. The business 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 quarter in the previous year, the company posted $0.82 EPS. As a group, sell-side analysts expect that TC Energy will post 2.77 EPS for the current fiscal year.

TC Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be given a C$0.88 dividend. This represents a $3.51 annualized dividend and a yield of 5.8%. The ex-dividend date is Tuesday, September 29th. TC Energy's dividend payout ratio is 104.98%.

Hedge Funds Weigh In On TC Energy

Large investors have recently modified their holdings of the business. Canada Pension Plan Investment Board acquired a new position in TC Energy in the second quarter valued at approximately $1,148,244,000. GQG Partners LLC bought a new position in shares of TC Energy during the 2nd quarter worth approximately $1,107,936,000. Deutsche Bank AG boosted its holdings in shares of TC Energy by 1.3% during the 2nd quarter. Deutsche Bank AG now owns 15,821,521 shares of the pipeline company's stock worth $1,048,809,000 after buying an additional 196,543 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of TC Energy during the 2nd quarter worth approximately $977,976,000. Finally, TD Waterhouse Canada Inc. grew its position in shares of TC Energy by 0.4% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 10,660,905 shares of the pipeline company's stock worth $623,355,000 after buying an additional 40,969 shares during the period. Institutional investors own 83.13% of the company's stock.

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.

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