TC Energy’s (TRP) “Moderate Buy” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reissued their moderate buy rating on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a research report report published on Friday morning, MarketBeat Ratings reports. The brokerage currently has a $106.00 price objective on the pipeline company’s stock.

TRP has been the subject of several other reports. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. BMO Capital Markets reiterated an “outperform” rating and issued a $99.00 price objective on shares of TC Energy in a report on Friday, July 31st. Jefferies Financial Group raised TC Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, September 1st. Morgan Stanley cut TC Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 10th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, TC Energy presently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

TC Energy Price Performance

Shares of TRP opened at $60.82 on Friday. The firm has a 50-day simple moving average of $65.25 and a two-hundred day simple moving average of $65.41. The stock has a market cap of $60.82 billion, a PE ratio of 25.24 and a beta of 0.66. TC Energy has a 1-year low of $49.27 and a 1-year high of $71.47. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.61 and a quick ratio of 0.54.

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 the consensus estimate of $0.61 by $0.07. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period in the prior year, the business posted $0.82 EPS. As a group, analysts forecast that TC Energy will post 2.78 EPS for the current year.

TC Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be paid a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy’s payout ratio is presently 102.49%.

Institutional Investors Weigh In On TC Energy

A number of hedge funds have recently bought and sold shares of TRP. Core Capital Management & Research inc. acquired a new position in shares of TC Energy during the second quarter worth about $91,000. The Manufacturers Life Insurance Company raised its holdings in TC Energy by 9.0% in the second quarter. The Manufacturers Life Insurance Company now owns 5,491,844 shares of the pipeline company’s stock valued at $362,982,000 after acquiring an additional 452,308 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in TC Energy by 2.8% in the second quarter. Sequoia Financial Advisors LLC now owns 20,399 shares of the pipeline company’s stock valued at $1,352,000 after acquiring an additional 562 shares in the last quarter. Tidal Investments LLC raised its holdings in TC Energy by 359.3% in the second quarter. Tidal Investments LLC now owns 57,665 shares of the pipeline company’s stock valued at $3,819,000 after acquiring an additional 45,110 shares in the last quarter. Finally, Cidel Asset Management Inc. lifted its stake in TC Energy by 18.8% in the second quarter. Cidel Asset Management Inc. now owns 21,426 shares of the pipeline company’s stock worth $1,418,000 after acquiring an additional 3,390 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Company Profile

TC Energy Corporation is an energy infrastructure company that develops and operates natural gas pipeline, storage and power-generation assets. Its natural gas pipeline network connects major supply basins with utilities, power generators, industrial customers and export markets, while its storage facilities help support the reliability and flexibility of energy systems.

The company serves customers across Canada, the United States and Mexico. Its operations include regulated and contracted natural gas transportation, natural gas storage, and nuclear and other power-generation activities.