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

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have been given an average recommendation of “Moderate Buy” by the fourteen analysts that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $78.50.

A number of equities analysts have recently commented on TRP shares. BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Scotiabank restated an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. Wall Street Zen upgraded TC Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Citigroup reaffirmed a “neutral” rating on shares of TC Energy in a report on Thursday, February 19th. Finally, Raymond James Financial raised TC Energy to a “hold” rating in a report on Tuesday, February 17th.

Hedge Funds Weigh In On TC Energy

A number of institutional investors have recently made changes to their positions in the business. Annis Gardner Whiting Capital Advisors LLC acquired a new position in TC Energy during the 4th quarter worth $25,000. Sterling Capital Management LLC acquired a new position in TC Energy during the 1st quarter worth $26,000. Trust Co. of Vermont acquired a new position in TC Energy during the 4th quarter worth $28,000. Westside Investment Management Inc. lifted its holdings in TC Energy by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock worth $32,000 after buying an additional 297 shares in the last quarter. Finally, McIlrath & Eck LLC acquired a new position in TC Energy during the 4th quarter worth $32,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Stock Performance

NYSE TRP opened at $70.82 on Friday. The stock has a market cap of $70.82 billion, a PE ratio of 30.74 and a beta of 0.67. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67. TC Energy has a twelve month low of $46.29 and a twelve month high of $71.47. The stock has a fifty day simple moving average of $64.23 and a 200-day simple moving average of $59.42.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the company earned $0.95 EPS. Equities analysts anticipate that TC Energy will post 2.75 earnings per share for the current year.

TC Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.8775 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.0%. TC Energy’s payout ratio is currently 109.57%.

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.