TC Energy Corporation (NYSE:TRP) Given Average Rating of “Moderate Buy” by Analysts

TC Energy Corporation (NYSE:TRP) (TSE:TRP) has earned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $78.50.

TRP has been the subject of several recent research reports. Morgan Stanley downgraded shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 10th. BMO Capital Markets reiterated an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. Weiss Ratings lowered TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 4th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. Finally, Scotiabank restated an “outperform” rating on shares of TC Energy in a report on Monday, May 4th.

Hedge Funds Weigh In On TC Energy

Several large investors have recently bought and sold shares of TRP. Cardinal Capital Management Inc. boosted its holdings in TC Energy by 0.7% during the second quarter. Cardinal Capital Management Inc. now owns 2,553,583 shares of the pipeline company’s stock worth $168,773,000 after purchasing an additional 18,907 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in TC Energy by 21.9% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 8,725 shares of the pipeline company’s stock valued at $578,000 after buying an additional 1,570 shares during the last quarter. First Bank & Trust increased its stake in TC Energy by 1.4% in the 2nd quarter. First Bank & Trust now owns 60,843 shares of the pipeline company’s stock valued at $4,033,000 after buying an additional 860 shares during the last quarter. Wealth Science Advisors LLC increased its stake in TC Energy by 19.3% in the 2nd quarter. Wealth Science Advisors LLC now owns 4,719 shares of the pipeline company’s stock valued at $313,000 after buying an additional 764 shares during the last quarter. Finally, PensionDanmark Pensionsforsikringsaktieselskab lifted its position in shares of TC Energy by 9.0% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 102,988 shares of the pipeline company’s stock worth $6,818,000 after buying an additional 8,496 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Up 1.2%

NYSE TRP opened at $69.92 on Friday. The company has a market cap of $72.85 billion, a price-to-earnings ratio of 30.35 and a beta of 0.66. TC Energy has a 52 week low of $46.61 and a 52 week high of $71.47. The business has a 50 day moving average price of $68.27 and a 200-day moving average price of $63.40. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67.

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 analysts’ consensus estimates of $0.70 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.During the same period in the prior year, the firm earned $0.95 earnings per share. As a group, equities analysts expect that TC Energy will post 2.72 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, June 30th. TC Energy’s dividend payout ratio is presently 107.39%.

TC Energy Company Profile

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.