TC Energy (NYSE:TRP) Price Target Raised to $74.00

TC Energy (NYSE:TRP) (TSE:TRP) had its price objective increased by Royal Bank of Canada from $71.00 to $74.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the pipeline company’s stock.

Several other equities analysts have also commented on the stock. TD Securities began coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. BMO Capital Markets upped their target price on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. The Goldman Sachs Group raised their price target on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Finally, StockNews.com assumed coverage on TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Down 0.8 %

NYSE:TRP opened at $45.52 on Tuesday. The stock has a 50-day simple moving average of $46.51 and a 200 day simple moving average of $46.61. TC Energy has a one year low of $31.83 and a one year high of $50.37. The company has a market capitalization of $47.30 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 4.43 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a return on equity of 11.95% and a net margin of 29.40%. During the same quarter last year, the firm earned $1.35 EPS. Sell-side analysts predict that TC Energy will post 2.62 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.85 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.47%. TC Energy’s dividend payout ratio (DPR) is presently 70.68%.

Hedge Funds Weigh In On TC Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRP. Fortitude Family Office LLC acquired a new stake in TC Energy in the 3rd quarter valued at $28,000. Blue Trust Inc. lifted its holdings in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of TC Energy in the 4th quarter valued at $31,000. Versant Capital Management Inc bought a new stake in shares of TC Energy in the 4th quarter worth about $33,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of TC Energy during the 4th quarter worth about $36,000. 83.13% of the stock is currently owned by 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.