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

TC Energy Co. (NYSE:TRP) (TSE:TRP) has earned a consensus rating of “Moderate Buy” from the twelve analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $62.00.

Several equities analysts have recently commented on the stock. Citigroup assumed coverage on shares of TC Energy in a research note on Friday, April 4th. They set a “neutral” rating for the company. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Cibc World Mkts raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 2nd. Finally, StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th.

Hedge Funds Weigh In On TC Energy

A number of institutional investors have recently bought and sold shares of TRP. Barclays PLC raised its stake in TC Energy by 19.9% in the third quarter. Barclays PLC now owns 528,528 shares of the pipeline company’s stock worth $25,132,000 after buying an additional 87,885 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of TC Energy by 7.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,264 shares of the pipeline company’s stock valued at $868,000 after purchasing an additional 1,231 shares in the last quarter. JCIC Asset Management Inc. increased its stake in shares of TC Energy by 29.5% during the fourth quarter. JCIC Asset Management Inc. now owns 3,464 shares of the pipeline company’s stock valued at $161,000 after purchasing an additional 789 shares in the last quarter. Code Waechter LLC increased its stake in shares of TC Energy by 8.6% during the fourth quarter. Code Waechter LLC now owns 34,268 shares of the pipeline company’s stock valued at $1,594,000 after purchasing an additional 2,726 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of TC Energy by 3.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 33,445 shares of the pipeline company’s stock valued at $1,558,000 after purchasing an additional 1,133 shares in the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Performance

NYSE TRP opened at $49.47 on Tuesday. The company has a 50-day simple moving average of $48.48 and a two-hundred day simple moving average of $47.51. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. TC Energy has a 12-month low of $37.07 and a 12-month high of $51.34. The firm has a market cap of $51.43 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 4.34 and a beta of 0.78.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period last year, the company posted $1.02 earnings per share. On average, equities analysts forecast that TC Energy will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.6142 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy’s payout ratio is currently 77.89%.

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.