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

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

A number of research firms have weighed in on TRP. Barclays reiterated an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Royal Bank Of Canada upped their price objective on TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. BMO Capital Markets raised TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, November 7th. Citigroup restated a “neutral” rating on shares of TC Energy in a research note on Thursday, November 20th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a research report on Monday.

TC Energy Stock Up 1.8%

Shares of NYSE:TRP opened at $55.84 on Wednesday. TC Energy has a 1 year low of $43.51 and a 1 year high of $55.98. The company has a market capitalization of $58.12 billion, a PE ratio of 24.07 and a beta of 0.70. The business has a fifty day moving average price of $53.05 and a two-hundred day moving average price of $51.25. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.63 and a quick ratio of 0.56.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $2.63 billion. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. During the same period in the previous year, the firm earned $1.03 EPS. Analysts forecast that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently disclosed 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 represents a $3.40 annualized dividend and a yield of 6.1%. This is a boost from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Wednesday, December 31st. TC Energy’s payout ratio is currently 106.47%.

Institutional Trading of TC Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. boosted its holdings in TC Energy by 1.6% in the 1st quarter. American Century Companies Inc. now owns 250,870 shares of the pipeline company’s stock worth $11,847,000 after buying an additional 4,015 shares during the period. Northern Trust Corp lifted its position in shares of TC Energy by 11.2% during the first quarter. Northern Trust Corp now owns 860,512 shares of the pipeline company’s stock worth $40,625,000 after acquiring an additional 86,438 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of TC Energy by 13.8% in the first quarter. Wellington Management Group LLP now owns 64,767 shares of the pipeline company’s stock worth $3,058,000 after acquiring an additional 7,871 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of TC Energy by 10.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 8,473 shares of the pipeline company’s stock valued at $400,000 after purchasing an additional 815 shares in the last quarter. Finally, SVB Wealth LLC purchased a new position in shares of TC Energy in the first quarter valued at $72,000. Institutional investors own 83.13% of the company’s stock.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.