TC Energy Corporation (NYSE:TRP) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $84.00.

TRP has been the subject of several research analyst reports. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a report on Tuesday, October 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a research note on Monday, December 22nd. Citigroup restated a “neutral” rating on shares of TC Energy in a research report on Thursday, November 20th. Cibc Captl Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada lifted their price target on shares of TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TRP. Allworth Financial LP increased its holdings in TC Energy by 16.4% in the 3rd quarter. Allworth Financial LP now owns 2,151 shares of the pipeline company’s stock worth $117,000 after acquiring an additional 303 shares in the last quarter. Swiss Life Asset Management Ltd boosted its position in shares of TC Energy by 13.7% in the third quarter. Swiss Life Asset Management Ltd now owns 71,539 shares of the pipeline company’s stock worth $3,895,000 after purchasing an additional 8,621 shares during the period. Manhattan West Asset Management LLC purchased a new stake in shares of TC Energy in the third quarter worth $201,000. CIBC Bancorp USA Inc. bought a new stake in shares of TC Energy during the 3rd quarter valued at $21,107,000. Finally, Greenline Partners LLC lifted its stake in shares of TC Energy by 3.4% during the 3rd quarter. Greenline Partners LLC now owns 314,303 shares of the pipeline company’s stock valued at $17,101,000 after buying an additional 10,336 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Stock Performance

Shares of TRP stock opened at $55.83 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.60. The company has a 50 day moving average price of $53.31 and a 200-day moving average price of $51.39. TC Energy has a 52 week low of $43.51 and a 52 week high of $56.08. The firm has a market capitalization of $58.10 billion, a PE ratio of 24.06 and a beta of 0.70.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.56. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. As a group, equities research analysts expect that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.85 per share. This is a boost from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend is Wednesday, December 31st. TC Energy’s dividend payout ratio is presently 106.47%.

TC Energy Company Profile

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.