TC Energy Corporation (NYSE:TRP) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have been given an average rating of “Moderate Buy” by the twelve research firms that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $84.00.

TRP has been the subject of several research analyst reports. Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. TD Securities reiterated a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. Citigroup reissued a “neutral” rating on shares of TC Energy in a report on Thursday, November 20th. Cibc Captl Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research report on Tuesday, October 14th.

Hedge Funds Weigh In On TC Energy

Several large investors have recently added to or reduced their stakes in TRP. Avantax Advisory Services Inc. lifted its position in shares of TC Energy by 3.6% in the first quarter. Avantax Advisory Services Inc. now owns 9,908 shares of the pipeline company’s stock valued at $468,000 after acquiring an additional 344 shares in the last quarter. Cetera Investment Advisers raised its stake in TC Energy by 4.3% during the 1st quarter. Cetera Investment Advisers now owns 107,761 shares of the pipeline company’s stock valued at $5,089,000 after purchasing an additional 4,437 shares during the period. HB Wealth Management LLC boosted its stake in TC Energy by 83.9% in the 1st quarter. HB Wealth Management LLC now owns 10,667 shares of the pipeline company’s stock worth $504,000 after purchasing an additional 4,867 shares during the period. XTX Topco Ltd grew its holdings in TC Energy by 94.1% during the 1st quarter. XTX Topco Ltd now owns 15,698 shares of the pipeline company’s stock valued at $741,000 after buying an additional 7,609 shares in the last quarter. Finally, Bayforest Capital Ltd bought a new stake in shares of TC Energy during the first quarter valued at approximately $261,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of TRP stock opened at $54.09 on Friday. TC Energy has a 12 month low of $43.51 and a 12 month high of $55.37. The company’s fifty day moving average price is $52.80 and its 200-day moving average price is $50.74. The stock has a market cap of $56.30 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 4.82 and a beta of 0.73. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the previous year, the company posted $1.03 earnings per share. On average, equities analysts expect that TC Energy will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.85 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Wednesday, December 31st. TC Energy’s dividend payout ratio is presently 103.88%.

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.