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

TC Energy Co. (NYSE:TRP) (TSE:TRP) has earned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $62.00.

TRP has been the subject of a number of recent analyst reports. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. TD Securities initiated coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada increased their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd.

Hedge Funds Weigh In On TC Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in TRP. SBI Securities Co. Ltd. bought a new stake in TC Energy in the fourth quarter worth about $31,000. Versant Capital Management Inc purchased a new stake in shares of TC Energy during the 4th quarter worth approximately $33,000. Synergy Investment Management LLC bought a new stake in shares of TC Energy in the 4th quarter worth approximately $36,000. Point72 DIFC Ltd purchased a new position in TC Energy in the third quarter valued at approximately $39,000. Finally, Millstone Evans Group LLC purchased a new position in TC Energy in the fourth quarter valued at approximately $41,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Performance

NYSE:TRP opened at $48.02 on Monday. TC Energy has a twelve month low of $34.95 and a twelve month high of $50.37. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $49.90 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 4.34 and a beta of 0.83. The stock’s 50-day simple moving average is $46.54 and its 200 day simple moving average is $46.93.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the prior year, the firm earned $1.35 EPS. On average, analysts anticipate that TC Energy will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.08%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s payout ratio is presently 72.53%.

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.