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

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have earned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $84.00.

TRP has been the subject of several analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a research note on Monday, December 29th. Cibc Captl Mkts upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Royal Bank Of Canada lifted their target price on TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Cibc World Mkts downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Finally, Scotiabank reissued an “outperform” rating on shares of TC Energy in a report on Monday, October 20th.

TC Energy Price Performance

TRP stock opened at $54.92 on Friday. The stock has a 50-day moving average price of $54.48 and a two-hundred day moving average price of $52.04. The company has a market cap of $57.16 billion, a PE ratio of 23.67 and a beta of 0.72. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.60. TC Energy has a 12-month low of $43.51 and a 12-month high of $56.34.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results 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 firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the previous year, the company posted $1.03 earnings per share. As a group, research analysts predict that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $3.40 dividend on an annualized basis and a yield of 6.2%. This is a boost from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s dividend payout ratio (DPR) is 106.90%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Trust Co. of Vermont acquired a new position in shares of TC Energy during the fourth quarter valued at $28,000. Westside Investment Management Inc. boosted its position in TC Energy by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 297 shares during the period. Hilltop National Bank bought a new position in shares of TC Energy in the second quarter worth $32,000. SWAN Capital LLC acquired a new position in shares of TC Energy during the third quarter valued at $40,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of TC Energy by 237.4% during the third quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 565 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

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.