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

TC Energy Corporation (NYSE:TRP) (TSE:TRP) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $84.00.

Several analysts have issued reports on TRP shares. US Capital Advisors cut shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Citigroup reiterated a “neutral” rating on shares of TC Energy in a research report on Thursday, November 20th. BMO Capital Markets upgraded TC Energy from a “market perform” rating to an “outperform” rating in a research report on Friday, November 7th. 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, Weiss Ratings restated a “hold (c+)” rating on shares of TC Energy in a research report on Tuesday.

TC Energy Price Performance

TRP opened at $54.09 on Friday. The firm has a 50-day moving average price of $52.80 and a 200-day moving average price of $50.74. The company has a market capitalization of $56.30 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 4.82 and a beta of 0.73. TC Energy has a twelve month low of $43.51 and a twelve month high of $55.37. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.63 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same quarter in the previous year, the firm posted $1.03 EPS. Equities analysts expect that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, December 31st. This is an increase from TC Energy’s previous quarterly dividend of $0.61. This represents a $3.40 dividend on an annualized basis and a yield of 6.3%. TC Energy’s dividend payout ratio (DPR) is 103.88%.

Hedge Funds Weigh In On TC Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. FORA Capital LLC purchased a new position in TC Energy in the 1st quarter worth approximately $776,000. Fractal Investments LLC grew its holdings in shares of TC Energy by 34.4% in the second quarter. Fractal Investments LLC now owns 649,000 shares of the pipeline company’s stock worth $31,665,000 after purchasing an additional 166,000 shares during the last quarter. Miller Howard Investments Inc. NY increased its stake in shares of TC Energy by 93.8% in the second quarter. Miller Howard Investments Inc. NY now owns 1,153,849 shares of the pipeline company’s stock worth $56,296,000 after buying an additional 558,498 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in TC Energy during the 1st quarter valued at $273,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of TC Energy in the first quarter valued at about $833,000. 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.