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

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have earned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $62.00.

Several research firms have issued reports on TRP. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Royal Bank of Canada upped their price target on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. BMO Capital Markets upped their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. StockNews.com raised TC Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd.

Institutional Investors Weigh In On TC Energy

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in TC Energy by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company’s stock worth $2,035,952,000 after buying an additional 734,678 shares during the period. FIL Ltd grew its stake in shares of TC Energy by 10.3% in the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company’s stock worth $1,325,558,000 after purchasing an additional 2,644,627 shares in the last quarter. TD Asset Management Inc. grew its stake in shares of TC Energy by 2.1% in the fourth quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company’s stock worth $765,627,000 after purchasing an additional 344,485 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of TC Energy by 9.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company’s stock worth $686,763,000 after purchasing an additional 1,280,000 shares in the last quarter. Finally, Norges Bank bought a new position in shares of TC Energy in the fourth quarter worth $428,759,000. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Price Performance

TRP stock opened at $46.37 on Thursday. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. TC Energy has a 52-week low of $31.83 and a 52-week high of $50.37. The stock’s 50 day moving average is $46.30 and its two-hundred day moving average is $46.72. The company has a market capitalization of $48.19 billion, a PE ratio of 14.31, a P/E/G ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the previous year, the business earned $1.35 EPS. Analysts predict that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.85 dividend. The ex-dividend date is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 7.33%. TC Energy’s dividend payout ratio (DPR) is currently 72.53%.

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.