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

TC Energy Co. (NYSE:TRP) (TSE:TRP) has received an average recommendation of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $62.00.

A number of brokerages recently issued reports on TRP. TD Securities assumed coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Royal Bank of Canada increased their target price on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. BMO Capital Markets boosted their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Finally, StockNews.com upgraded TC Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th.

TC Energy Trading Up 0.3 %

Shares of NYSE:TRP opened at $44.41 on Thursday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The stock’s 50-day moving average is $46.39 and its 200-day moving average is $46.68. The company has a market cap of $46.15 billion, a P/E ratio of 13.71, a P/E/G ratio of 4.34 and a beta of 0.81. TC Energy has a 52-week low of $31.83 and a 52-week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the firm posted $1.35 EPS. Equities research analysts predict that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 7.66%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy’s payout ratio is presently 71.91%.

Hedge Funds Weigh In On TC Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. raised its stake in TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 267 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of TC Energy by 7.4% in the 3rd quarter. Private Advisor Group LLC now owns 27,480 shares of the pipeline company’s stock worth $1,307,000 after purchasing an additional 1,888 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of TC Energy during the 3rd quarter worth about $3,034,000. Assenagon Asset Management S.A. lifted its holdings in TC Energy by 19.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 32,312 shares of the pipeline company’s stock valued at $1,538,000 after purchasing an additional 5,275 shares during the last quarter. Finally, PFG Investments LLC acquired a new position in TC Energy in the third quarter valued at about $239,000. Institutional investors own 83.13% of the company’s stock.

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.