According to a report by Bloomberg Ratings on September 22, 2023, TC Energy Co. (NYSE:TRP) (TSE:TRP) has received a consensus recommendation of “Moderate Buy” from eight analysts currently covering the stock. Among these analysts, four have issued a hold rating and four have assigned a buy rating to the company.
The average 12-month target price among brokers who have provided ratings on the stock in the past year is $56.83. However, it’s important for investors to note that this target price is subject to change based on market conditions and analyst evaluations.
Shares of TRP stock opened at $36.15 on Friday, with a twelve month low of $33.02 and a twelve month high of $49.51. The company currently holds a market capitalization of $37.50 billion.
TC Energy has demonstrated certain financial indicators worth considering in investment decisions as well. The stock carries a P/E ratio of 50.20, suggesting that investors are willing to pay higher multiples for its earnings compared to other companies in the industry.
The P/E/G ratio, which measures the price-to-earnings ratio relative to the company’s growth rate, stands at 2.92. This indicates that the stock may be overvalued when considering its growth prospects.
Moreover, the stock exhibits a beta of 0.84, implying lower volatility compared to the overall market. A beta below 1 signifies less sensitivity to market fluctuations.
Technical analysis reveals that TC Energy’s stock has been following a downward trend with a minor decrease in both its 50-day and 200-day moving averages since September 22, 2023.
Furthermore, it’s important for investors to be aware of TC Energy’s liquidity position and debt level as part of their evaluation process. The company maintains a current ratio of 0.61 and quick ratio of 0.52. These ratios suggest that TC Energy’s short-term liquidity may be relatively low, implying potential difficulties in meeting its immediate obligations.
TC Energy currently carries a debt-to-equity ratio of 1.78, which implies that the company has a moderate level of debt compared to its equity. Investors should consider this factor when assessing TC Energy’s overall financial health and risk profile.
Looking at the institutional investor activity surrounding TC Energy, Jones Financial Companies Lllp saw a significant increase in their stake during the first quarter, owning 669 shares after purchasing an additional 444 shares. Other investors also acquired stakes in the company, including CoreCap Advisors LLC, OLD Point Trust & Financial Services N A, GPS Wealth Strategies Group LLC, and Money Concepts Capital Corp.
In terms of recent earnings performance, TC Energy reported earnings per share (EPS) of $0.71 for the quarter ended July 27th, 2023. This result missed the consensus estimate of $0.73 by ($0.02). The company achieved a net margin of 6.89% and a return on equity (ROE) of 13.80%. However, it is important to note that past performance may not be indicative of future results.
Analysts covering TC Energy expect the company to post an EPS of 3.19 for the current year.
In conclusion, while TC Energy has received a “Moderate Buy” recommendation from analysts with an average target price of $56.83, investors should carefully analyze various factors before making any investment decisions in this stock. Key considerations include stock valuation metrics such as P/E and P/E/G ratios, market trends indicated by moving averages, liquidity position measured by current and quick ratios, debt levels reflected by debt-to-equity ratio, as well as recent earnings performance and expectations for future EPS growth.
[bs_slider_forecast ticker=”TRP”]
Analyzing TC Energy: Reports, Ratings, and Dividend Analysis
In recent months, TC Energy has been the subject of much analysis and evaluation by equities research analysts. These experts have issued various reports and ratings on the stock, providing valuable insights into its performance and potential outlook.
One such report came from the Royal Bank of Canada, which lowered its target price on TC Energy shares from $65.00 to $54.00. Despite this adjustment, the bank maintained an “outperform” rating for the stock in their research note dated July 31st.
Similarly, StockNews.com began coverage on TC Energy on August 17th, giving it a “hold” rating. This new report adds to the existing pool of information available to investors studying TC Energy’s market position.
However, not all reports were positive in their assessment. CIBC downgraded TC Energy from a former “sector outperform” rating to a more neutral stance in their research note released on July 24th. Likewise, TheStreet’s research note on July 28th downgraded TC Energy’s rating from “b-” to “c.”
One particularly noteworthy change came from TD Securities when they downgraded their recommendation from a “buy” rating to a “hold” rating for TC Energy shares in their report dated July 28th. They also decreased the price objective for the stock significantly, reducing it from $62.00 to $50.00.
While these differing opinions may lead to perplexity among investors, it is important to also consider other factors that could impact this energy company’s future prospects.
TC Energy recently announced its quarterly dividend payment schedule, which will take place on October 31st. Investors who hold shares as of September 29th will receive a dividend of $0.702 per share. This represents an increase from the company’s previous quarterly dividend of $0.69.
Notably, the annualized dividend payout stands at $2.81 per share with a yield of 7.77%. Such a substantial dividend may attract the attention of income-seeking investors, despite the high dividend payout ratio of 390.28% presented by TC Energy.
As we approach the ex-dividend date on September 28th, potential investors are likely to take this new information into account when considering whether to include TC Energy in their portfolio.
In conclusion, the recent reports and ratings surrounding TC Energy’s stock have provided valuable insights for investors. With mixed opinions from various analysts and an upcoming quarterly dividend, it is crucial for individuals to weigh these factors carefully before making investment decisions.
