TC Energy Corporation (NYSE:TRP) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Analyst consensus: Fourteen brokerages give TC Energy a consensus "Hold" rating (1 sell, 6 hold, 7 buy) with an average 1‑year target price of $72.50.
• Dividend boost: TC Energy raised its quarterly dividend to $0.8775 (annualized $3.51), implying a ~5.5% yield, though the payout ratio is high at 110.78% (ex‑dividend Mar 31, payable Apr 30).
• Mixed quarterly results: The company reported $0.70 EPS (beating estimates by $0.05) but missed revenue expectations heavily at $2.20B versus $2.94B consensus; analysts forecast ~2.63 EPS for the year.

Shares of TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP have been assigned a consensus recommendation of "Hold" from the fourteen research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $72.50.

A number of brokerages have weighed in on TRP. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of TC Energy in a report on Monday, December 29th. Wall Street Zen raised TC Energy from a "sell" rating to a "hold" rating in a report on Saturday, February 14th. Barclays restated an "overweight" rating on shares of TC Energy in a research note on Friday, February 20th. Raymond James Financial raised TC Energy to a "hold" rating in a report on Tuesday, February 17th. Finally, Scotiabank reiterated an "outperform" rating on shares of TC Energy in a research report on Tuesday, February 17th.

TC Energy Stock Down 0.1%

Shares of TC Energy stock opened at $63.73 on Monday. TC Energy has a one year low of $43.59 and a one year high of $65.57. The company has a market cap of $66.36 billion, a P/E ratio of 27.42 and a beta of 0.72. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.56 and a current ratio of 0.63. The firm has a fifty day moving average of $58.76 and a two-hundred day moving average of $55.00.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. TC Energy had a net margin of 23.04% and a return on equity of 10.52%. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. On average, analysts forecast that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.8775 per share. This is a boost from TC Energy's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.5%. TC Energy's dividend payout ratio is currently 110.78%.

Institutional Trading of TC Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its holdings in TC Energy by 54.0% in the first quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company's stock valued at $538,000 after buying an additional 3,892 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of TC Energy by 46.1% in the 1st quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company's stock worth $588,000 after acquiring an additional 3,929 shares during the period. Intech Investment Management LLC grew its holdings in shares of TC Energy by 200.7% in the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company's stock worth $1,269,000 after acquiring an additional 17,939 shares during the period. Bank of New York Mellon Corp increased its stake in TC Energy by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 918,293 shares of the pipeline company's stock valued at $44,804,000 after purchasing an additional 3,052 shares in the last quarter. Finally, SouthState Corp increased its stake in TC Energy by 2,757.1% in the 2nd quarter. SouthState Corp now owns 1,000 shares of the pipeline company's stock valued at $49,000 after purchasing an additional 965 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Company Profile

TC Energy NYSE: TRP is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company's principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.

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