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

TC Energy Corporation (NYSE:TRP) (TSE:TRP) has received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $78.50.

Several equities analysts have recently weighed in on TRP shares. Barclays reiterated an “overweight” rating on shares of TC Energy in a research note on Monday, May 4th. Citigroup restated a “neutral” rating on shares of TC Energy in a research report on Thursday, February 19th. The Goldman Sachs Group upgraded shares of TC Energy from a “sell” rating to a “neutral” rating and boosted their target price for the company from $53.00 to $62.00 in a research report on Monday, April 20th. Scotiabank restated an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. Finally, Royal Bank Of Canada boosted their target price on shares of TC Energy from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, May 4th.

TC Energy Price Performance

Shares of NYSE:TRP opened at $68.88 on Wednesday. TC Energy has a fifty-two week low of $46.29 and a fifty-two week high of $71.47. The business has a 50-day simple moving average of $65.91 and a two-hundred day simple moving average of $61.29. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65. The firm has a market cap of $68.88 billion, a price-to-earnings ratio of 29.90 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. On average, analysts expect that TC Energy will post 2.75 earnings per share for the current year.

TC Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.1%. The ex-dividend date is Tuesday, June 30th. TC Energy’s payout ratio is 109.57%.

Institutional Trading of TC Energy

Several large investors have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC bought a new stake in TC Energy during the first quarter valued at approximately $357,000. Groupe la Francaise increased its holdings in TC Energy by 2.1% in the 1st quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock worth $459,000 after acquiring an additional 154 shares in the last quarter. Western Wealth Management LLC purchased a new stake in TC Energy in the 1st quarter worth approximately $55,000. Royal Fund Management LLC increased its holdings in TC Energy by 2.6% in the 1st quarter. Royal Fund Management LLC now owns 24,984 shares of the pipeline company’s stock worth $1,564,000 after acquiring an additional 636 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in TC Energy by 10.3% in the 1st quarter. Bank of America Corp DE now owns 3,909,668 shares of the pipeline company’s stock worth $244,745,000 after acquiring an additional 364,575 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

About TC Energy

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.