TC Energy Co. (NYSE:TRP) Receives Average Rating of “Moderate Buy” from Analysts

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have been given an average recommendation of “Moderate Buy” by the ten analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $62.00.

Several equities analysts have recently weighed in on TRP shares. Royal Bank of Canada lifted their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Citigroup started coverage on TC Energy in a report on Friday, April 4th. They issued a “neutral” rating for the company. StockNews.com cut TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, TD Securities began coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company.

TC Energy Stock Performance

Shares of TRP stock opened at $49.01 on Friday. TC Energy has a 52 week low of $35.38 and a 52 week high of $50.37. The firm’s 50-day simple moving average is $46.84 and its two-hundred day simple moving average is $47.07. The firm has a market cap of $50.93 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 4.34 and a beta of 0.74. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.51 by $0.54. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter in the prior year, the business earned $1.35 earnings per share. As a group, equities 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 Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 6.94%. TC Energy’s payout ratio is presently 72.84%.

Institutional Investors Weigh In On TC Energy

Several hedge funds have recently bought and sold shares of the stock. Lowe Wealth Advisors LLC purchased a new stake in shares of TC Energy during the 1st quarter valued at $30,000. SBI Securities Co. Ltd. purchased a new stake in TC Energy during the fourth quarter valued at about $31,000. Versant Capital Management Inc bought a new stake in TC Energy during the fourth quarter worth about $33,000. Synergy Investment Management LLC purchased a new position in shares of TC Energy in the 4th quarter worth about $36,000. Finally, Millstone Evans Group LLC bought a new position in shares of TC Energy during the 4th quarter valued at about $41,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Company Profile

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.