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

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have been given an average rating of “Moderate Buy” by the nine research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $62.00.

TRP has been the subject of several analyst reports. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. Royal Bank of Canada raised their price objective on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. TD Securities began coverage on TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Finally, StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th.

Institutional Investors Weigh In On TC Energy

Institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of TC Energy by 23.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,066 shares of the pipeline company’s stock worth $980,000 after acquiring an additional 4,033 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in TC Energy in the 4th quarter worth $10,436,000. Value Partners Investments Inc. purchased a new stake in TC Energy in the 4th quarter worth $245,000. Parr Mcknight Wealth Management Group LLC bought a new position in shares of TC Energy during the 4th quarter valued at about $2,510,000. Finally, Public Employees Retirement System of Ohio grew its position in shares of TC Energy by 343.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 351,705 shares of the pipeline company’s stock valued at $16,375,000 after purchasing an additional 272,457 shares in the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Down 1.5 %

Shares of TRP opened at $48.45 on Monday. TC Energy has a 1-year low of $34.95 and a 1-year high of $50.37. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. The firm’s 50-day moving average price is $46.33 and its 200-day moving average price is $46.87. The firm has a market capitalization of $50.34 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results 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. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter in the prior year, the firm posted $1.35 earnings per share. Sell-side analysts anticipate 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 Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.85 dividend. 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. This represents a $3.40 dividend on an annualized basis and a yield of 7.02%. TC Energy’s payout ratio 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.