TC Energy Corporation (NYSE:TRP) Given Consensus Rating of “Moderate Buy” by Analysts

TC Energy Corporation (NYSE:TRP) (TSE:TRP) has been given a consensus rating of “Moderate Buy” by the fourteen research firms that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $89.00.

TRP has been the topic of a number of research reports. Morgan Stanley lowered shares of TC Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 10th. The Goldman Sachs Group raised TC Energy from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $53.00 to $62.00 in a report on Monday, April 20th. TD Securities reiterated a “hold” rating on shares of TC Energy in a research report on Thursday, July 16th. Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Thursday, July 16th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a research report on Tuesday, May 26th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Groupe la Francaise boosted its holdings in shares of 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 buying an additional 154 shares during the last quarter. Wealthstar Advisors LLC increased its holdings in TC Energy by 1.5% during the first quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company’s stock worth $718,000 after buying an additional 165 shares during the last quarter. Gold Investment Management Ltd. raised its position in TC Energy by 2.0% in the fourth quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock worth $549,000 after acquiring an additional 200 shares during the period. Kennebec Savings Bank boosted its stake in TC Energy by 2.1% in the fourth quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock valued at $542,000 after acquiring an additional 203 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its stake in TC Energy by 5.7% in the first quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company’s stock valued at $245,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Down 2.3%

Shares of NYSE TRP opened at $63.87 on Thursday. The firm’s 50-day simple moving average is $68.11 and its 200 day simple moving average is $64.71. The company has a market cap of $66.54 billion, a price-to-earnings ratio of 26.50 and a beta of 0.66. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. TC Energy has a 12-month low of $48.49 and a 12-month high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. During the same quarter in the prior year, the firm earned $0.82 EPS. On average, research analysts expect that TC Energy will post 2.73 earnings per share for the current fiscal year.

TC Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy’s payout ratio is currently 102.49%.

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.