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

TC Energy Co. (NYSE:TRP) (TSE:TRP) has been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $62.00.

A number of equities analysts recently commented on TRP shares. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada increased their price target on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Wall Street Zen lowered TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. CIBC upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a research report on Friday, May 2nd. Finally, Cibc World Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 2nd.

TC Energy Price Performance

TC Energy stock opened at $50.70 on Friday. 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 company’s 50 day simple moving average is $49.16 and its 200-day simple moving average is $47.69. TC Energy has a 1 year low of $37.07 and a 1 year high of $51.99. The company has a market capitalization of $52.70 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the prior year, the business earned $1.02 EPS. As a group, equities research analysts expect that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.6142 per share. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy’s dividend payout ratio is currently 77.89%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TRP. Goldman Sachs Group Inc. increased its stake in shares of TC Energy by 2,565.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock valued at $769,815,000 after buying an additional 15,694,336 shares during the period. Norges Bank bought a new position in TC Energy during the 4th quarter worth about $428,759,000. Bank of Nova Scotia lifted its stake in TC Energy by 80.3% in the 1st quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock valued at $802,164,000 after acquiring an additional 7,562,887 shares in the last quarter. Mufg Securities Canada LTD. grew its position in TC Energy by 571.7% in the fourth quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company’s stock valued at $288,043,000 after purchasing an additional 5,264,079 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in TC Energy by 34.2% during the first quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock worth $935,627,000 after acquiring an additional 5,053,228 shares in the last quarter. 83.13% of the stock is owned by institutional investors.

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.