TC Energy Corporation (NYSE:TRP) Receives Consensus Rating of “Moderate Buy” from Analysts

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

A number of equities analysts recently commented on the stock. National Bank Financial upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 4th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th. BMO Capital Markets reiterated an “outperform” rating on shares of TC Energy in a report on Monday, May 4th. Finally, The Goldman Sachs Group raised TC Energy from a “sell” rating to a “neutral” rating and raised their target price for the stock from $53.00 to $62.00 in a research report on Monday, April 20th.

TC Energy Stock Down 0.2%

Shares of NYSE:TRP opened at $69.75 on Friday. TC Energy has a fifty-two week low of $46.61 and a fifty-two week high of $71.47. The firm’s 50 day moving average price is $68.37 and its 200 day moving average price is $63.44. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The stock has a market cap of $72.68 billion, a price-to-earnings ratio of 30.28 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, May 1st. The pipeline company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. TC Energy had a net margin of 22.22% and a return on equity of 10.74%. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the previous year, the business posted $0.95 EPS. As a group, equities research analysts predict that TC Energy will post 2.72 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a $0.8775 dividend. This represents a $3.51 annualized dividend and a yield of 5.0%. The ex-dividend date is Tuesday, June 30th. TC Energy’s dividend payout ratio is currently 107.39%.

Institutional Trading of TC Energy

Several institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC purchased a new position in shares of TC Energy in the 1st quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in TC Energy in the fourth quarter valued at $25,000. Trust Co. of Vermont acquired a new position in TC Energy in the fourth quarter valued at $28,000. McIlrath & Eck LLC purchased a new position in shares of TC Energy during the fourth quarter worth about $32,000. Finally, SWAN Capital LLC acquired a new stake in shares of TC Energy during the third quarter worth about $40,000. Hedge funds and other institutional investors 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.