According to Bloomberg.com, TC Energy Co. (TSE:TRP) (NYSE:TRP) has received an average rating of “Hold” from twelve ratings firms that currently cover the company. Out of these firms, one analyst has rated the stock as a sell, seven have given it a hold recommendation, and four have assigned a buy recommendation. The average 12-month target price among brokers who have covered the stock in the past year is C$56.75.
In recent news regarding TC Energy, Director Una Marie Power purchased 4,800 shares of the company’s stock on Wednesday, August 30th at an average cost of C$49.16 per share. This transaction amounted to a total value of C$235,967.52. On the other hand, Director Mark Yeomans sold 640 shares of the company’s stock on Wednesday, August 23rd at an average price of C$47.82, resulting in a total transaction value of C$30,604.80. Director Una Marie Power also acquired 4,800 shares on the same day at an average price of C$49.16 per share with a total value of C$235,967.52. As it stands now, corporate insiders own approximately 0.06% of TC Energy’s stock.
TC Energy recently announced that it will be paying a quarterly dividend on Tuesday, October 31st. Shareholders who are recorded as such by Friday, September 29th will receive a dividend payment amounting to $0.93 per share. This represents an annualized dividend payout ratio of $3.72 and a dividend yield of 7.63%. The ex-dividend date is scheduled for Thursday, September 28th.
For further analysis on TC Energy and its current status in the market, readers are encouraged to read our latest analysis piece.
Please note that this article is based on information available as of September 22, 2023.
[bs_slider_forecast ticker=”ZBH”]
TC Energy’s Performance and Outlook: An Analysis of Reports from Various Brokerages
In recent months, TC Energy (TSE:TRP) has been the subject of numerous reports and analysis from various brokerages. JPMorgan Chase & Co., for instance, issued a report on July 25th in which they downgraded their target price on TC Energy shares from C$62.00 to C$61.00 and assigned a “neutral” rating to the stock. Similarly, Royal Bank of Canada cut their target price from C$65.00 to C$54.00 on July 31st while maintaining an “outperform” rating.
Credit Suisse Group also weighed in on the matter, reducing their target price on TC Energy shares from C$55.00 to C$54.00 in a report released on August 10th. On the flip side, National Bankshares raised its rating for TC Energy from “sector perform” to “outperform,” accompanied by a price target increase from C$53.00 to C$54.00.
Finally, in yet another report published on July 25th, CIBC downgraded TC Energy’s rating from “outperform” to “neutral” and adjusted their price target downward from C$62.00 to C$60.00.
As for the company’s recent market performance, TC Energy opened at C$48.75 on September 22nd – the date of this article – and has been exhibiting certain patterns over the past few months. The stock has had a 50-day moving average of C$49.12 along with a 200-day moving average of C$52.43.
TC Energy currently boasts a market capitalization of approximately C$48.75 billion with a P/E ratio of 54.17 and a beta value of 0.85 indicating its sensitivity to systematic risks compared to the broader market.
On September 22nd, TC Energy’s share price hovered between its one-year low of C$43.70 and its one-year high of C$66.19, reflecting the inherent volatility that comes with investing in the stock market.
Turning our attention to TC Energy’s financial performance, the company last reported its earnings results on July 27th, 2023. Unfortunately, they fell short of analysts’ consensus estimates with an earnings per share (EPS) of C$0.96 compared to the anticipated C$0.97 – a marginal difference of C($0.01). However, TC Energy still managed to achieve a return on equity (ROE) of 3.23% and a net margin of 6.71%.
Furthermore, the company’s revenue for the quarter stood at approximately C$3.83 billion, surpassing the consensus estimate of C$3.65 billion provided by analysts.
Looking ahead, equities analysts predict that TC Energy will post an EPS value of 4.1711934 for the current fiscal year.
It is worth noting that these reports from various brokerages provide investors and stakeholders with crucial insights into TC Energy’s performance and outlook in order to make informed decisions regarding their investments in the company.
As always, it is essential for investors to thoroughly analyze multiple sources of information and conduct their own due diligence before venturing into any investment opportunity within the stock market.
In conclusion, TC Energy continues to pique interest among market observers due to varying opinions and ratings from reputable brokerages regarding its future prospects. With fluctuating target prices and contrasting ratings assigned by these institutions, investors should exercise caution and monitor developments closely as new information arises in order to navigate the ever-changing landscape of this energy infrastructure company effectively.
