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

TC Energy Corporation (NYSE:TRP) (TSE:TRP) has earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $78.50.

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group upgraded TC Energy from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $53.00 to $62.00 in a research note on Monday, April 20th. TD Securities restated a “hold” rating on shares of TC Energy in a research report on Monday, May 4th. BMO Capital Markets reaffirmed an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Weiss Ratings downgraded shares of TC Energy from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Finally, Barclays reiterated an “overweight” rating on shares of TC Energy in a research note on Monday, May 4th.

TC Energy Stock Performance

Shares of TRP traded down $0.69 during midday trading on Friday, reaching $67.27. 3,079,252 shares of the stock were exchanged, compared to its average volume of 2,495,869. TC Energy has a twelve month low of $46.61 and a twelve month high of $71.47. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.65 and a quick ratio of 0.57. The company has a market capitalization of $70.09 billion, a price-to-earnings ratio of 29.20 and a beta of 0.66. The business’s 50-day moving average price is $68.04 and its 200 day moving average price is $62.98.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations 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 EPS. On average, sell-side analysts expect that TC Energy will post 2.72 EPS for the current fiscal year.

TC Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 annualized dividend and a yield of 5.2%. TC Energy’s dividend payout ratio is currently 107.39%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in shares of TC Energy by 54.0% during the first quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock worth $538,000 after purchasing an additional 3,892 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of TC Energy by 46.1% during the first quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock worth $588,000 after purchasing an additional 3,929 shares during the period. Intech Investment Management LLC grew its position in TC Energy by 200.7% in the 1st quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock valued at $1,269,000 after buying an additional 17,939 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in TC Energy by 50.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,706 shares of the pipeline company’s stock valued at $181,000 after buying an additional 1,243 shares during the last quarter. Finally, Guggenheim Capital LLC increased its stake in TC Energy by 9.9% in the 2nd quarter. Guggenheim Capital LLC now owns 16,758 shares of the pipeline company’s stock valued at $818,000 after buying an additional 1,511 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

About TC Energy

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.