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 Storage. The company builds and operates 93,300 km network 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. It also has regulated natural gas storage facilities with a total working gas capacity of 535 billion cubic feet. In addition, it has approximately 4,900 km liquids pipeline system that connects Alberta crude oil supplies to refining markets in Illinois, Oklahoma, Texas, and the U.S. Gulf Coast. Further, the company owns or has interests in seven power generation facilities with a combined capacity of approximately 4,300 megawatts that are powered by natural gas and nuclear fuel sources located in Alberta, Ontario, Québec, and New Brunswick; and owns and operates approximately 118 billion cubic feet of non-regulated natural gas storage capacity in Alberta. The company was formerly known as TransCanada Corporation and changed its name to TC Energy Corporation in May 2019. TC Energy Corporation was incorporated in 1951 and is headquartered in Calgary, Canada.
Wall Street Analysts Forecast Growth
TRP has been the topic of several research reports. BMO Capital Markets lowered their price objective on shares of TC Energy from C$76.00 to C$72.00 in a report on Thursday, August 11th. TD Securities upped their price objective on shares of TC Energy from C$75.00 to C$76.00 in a report on Thursday, August 11th. Royal Bank of Canada lowered their price objective on shares of TC Energy from C$79.00 to C$78.00 in a report on Tuesday, August 2nd. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Thursday, May 12th. Finally, US Capital Advisors reiterated a "hold" rating on shares of TC Energy in a report on Wednesday, June 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $68.77.
TC Energy Stock Performance
NYSE:TRP traded up $0.06 on Tuesday, reaching $50.33. 13,607 shares of the company's stock were exchanged, compared to its average volume of 2,027,577. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.64 and a quick ratio of 0.57. The firm has a market cap of $50.93 billion, a price-to-earnings ratio of 19.87, a P/E/G ratio of 3.88 and a beta of 0.71. TC Energy has a 52 week low of $44.77 and a 52 week high of $59.38. The stock has a fifty day simple moving average of $52.39 and a 200-day simple moving average of $54.29.
TC Energy Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a dividend of $0.699 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.80 dividend on an annualized basis and a yield of 5.56%. TC Energy's dividend payout ratio is presently 110.28%.