Brokerages Set TC Energy Corporation (NYSE:TRP) Price Target at $62.00

TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP has been assigned a consensus recommendation of "Moderate Buy" from the twelve analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $62.00.

TRP has been the topic of a number of recent analyst reports. Citigroup initiated coverage on shares of TC Energy in a research note on Friday, April 4th. They set a "neutral" rating on the stock. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Finally, Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd.

TC Energy Stock Performance

TRP stock traded up $0.30 during mid-day trading on Wednesday, reaching $48.28. The company had a trading volume of 2,123,593 shares, compared to its average volume of 2,474,554. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 1.61. The stock has a market capitalization of $50.21 billion, a P/E ratio of 15.93, a P/E/G ratio of 4.60 and a beta of 0.76. TC Energy has a one year low of $37.07 and a one year high of $51.99. The stock's 50-day simple moving average is $49.45 and its two-hundred day simple moving average is $47.72.

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

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.6142 dividend. This represents a $2.46 annualized dividend and a yield of 5.09%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio (DPR) is presently 82.51%.

Institutional Investors Weigh In On TC Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lowe Wealth Advisors LLC bought a new stake in TC Energy in the first quarter worth about $30,000. SBI Securities Co. Ltd. bought a new stake in TC Energy in the fourth quarter worth about $31,000. Synergy Investment Management LLC acquired a new stake in TC Energy during the 4th quarter worth about $36,000. Millstone Evans Group LLC acquired a new stake in TC Energy during the 4th quarter worth about $41,000. Finally, TruNorth Capital Management LLC acquired a new stake in TC Energy during the 1st quarter worth about $45,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Company Profile

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.