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

TC Energy Co. (NYSE:TRP) (TSE:TRP) has been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $62.00.

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

TC Energy Price Performance

NYSE TRP opened at $49.47 on Friday. The firm has a market cap of $51.43 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74. The stock’s 50-day moving average is $46.97 and its two-hundred day moving average is $47.12. TC Energy has a fifty-two week low of $35.38 and a fifty-two week high of $50.37. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.

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

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 6.87%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is 72.84%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. NTV Asset Management LLC grew its holdings in shares of TC Energy by 4.0% in the 4th quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock worth $288,000 after purchasing an additional 239 shares during the last quarter. Lee Financial Co grew its stake in TC Energy by 3.1% during the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company’s stock worth $381,000 after buying an additional 246 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of TC Energy by 7.0% during the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company’s stock worth $177,000 after buying an additional 249 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of TC Energy by 1.7% in the fourth quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company’s stock valued at $745,000 after acquiring an additional 273 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of TC Energy by 7.2% in the 4th quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company’s stock worth $191,000 after acquiring an additional 274 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

About TC Energy

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.