TC Energy Corporation (NYSE:TRP) Receives $62.00 Average Price Target from Analysts

Key Points

• TC Energy Corporation has received an average rating of "Moderate Buy" from eleven research firms, with two analysts rating it as a strong buy and one as a sell.
• Despite its positive outlook from analysts, TC Energy recently reported earnings that missed expectations, showing an EPS of $0.66 compared to the consensus estimate of $0.70.
• The company is set to pay a quarterly dividend of $0.6142 per share on July 31st, representing an annualized yield of 5.20% amidst a payout ratio of 82.51%.

Shares of TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP have earned an average rating of "Moderate Buy" from the eleven research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $62.00.

Several equities research analysts have recently issued reports on TRP shares. Citigroup started coverage on shares of TC Energy in a research report on Friday, April 4th. They set a "neutral" rating for the company. CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Finally, Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd.

TC Energy Stock Down 0.8%

Shares of TRP stock traded down $0.39 during trading on Friday, reaching $46.85. The company's stock had a trading volume of 1,046,302 shares, compared to its average volume of 2,440,841. TC Energy has a 1-year low of $37.41 and a 1-year high of $51.99. The stock's 50-day moving average price is $48.79 and its 200 day moving average price is $47.85. The company has a market capitalization of $48.72 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 4.53 and a beta of 0.76. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.70 and a quick ratio of 0.63.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). TC Energy had a return on equity of 11.41% and a net margin of 29.17%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the prior year, the firm posted $1.02 earnings per share. On average, research analysts anticipate that TC Energy will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.6142 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 annualized dividend and a yield of 5.24%. TC Energy's dividend payout ratio is currently 82.51%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC acquired a new stake in TC Energy during the 1st quarter valued at $30,000. Hilltop National Bank acquired a new position in shares of TC Energy during the second quarter worth approximately $32,000. TruNorth Capital Management LLC acquired a new position in TC Energy during the 1st quarter valued at about $45,000. Truvestments Capital LLC bought a new stake in shares of TC Energy in the 1st quarter worth $45,000. Finally, Golden State Wealth Management LLC lifted its stake in TC Energy by 222.2% during the first quarter. Golden State Wealth Management LLC now owns 1,076 shares of the pipeline company's stock valued at $51,000 after purchasing an additional 742 shares during the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.