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

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

Several research analysts recently issued reports on TRP shares. Royal Bank of Canada upped their price target on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Finally, TD Securities initiated coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company.

Institutional Trading of TC Energy

Hedge funds have recently added to or reduced their stakes in the company. Addenda Capital Inc. raised its position in shares of TC Energy by 4.4% in the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock valued at $48,135,000 after buying an additional 43,639 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of TC Energy by 1.3% during the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after acquiring an additional 242 shares during the period. Ritholtz Wealth Management grew its holdings in shares of TC Energy by 44.8% during the 4th quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after purchasing an additional 7,412 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of TC Energy in the third quarter worth $3,771,000. Finally, Exchange Traded Concepts LLC raised its stake in TC Energy by 7.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,034,698 shares of the pipeline company’s stock valued at $48,144,000 after purchasing an additional 71,955 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Trading Down 0.5 %

Shares of TRP opened at $48.02 on Monday. The stock’s 50-day moving average price is $46.54 and its 200 day moving average price is $46.95. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $49.90 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 4.34 and a beta of 0.83. TC Energy has a 12-month low of $34.95 and a 12-month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share 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 analysts’ expectations of $2.42 billion. During the same period in the prior year, the business posted $1.35 earnings per share. As a group, 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 announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio (DPR) is currently 72.53%.

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.