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

TC Energy Co. (NYSE:TRP) (TSE:TRP) has earned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $62.00.

Several analysts recently weighed in on TRP shares. StockNews.com raised TC Energy from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. TD Securities started coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. BMO Capital Markets boosted their price target on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Finally, Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th.

TC Energy Stock Up 0.2 %

TRP stock opened at $44.82 on Thursday. The business’s 50 day simple moving average is $46.33 and its 200 day simple moving average is $46.72. TC Energy has a 1-year low of $31.83 and a 1-year high of $50.37. The firm has a market capitalization of $46.57 billion, a PE ratio of 13.83, a PEG ratio of 4.34 and a beta of 0.81. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted $1.35 EPS. As a group, research analysts anticipate that TC Energy will post 2.63 EPS 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 issued a $0.85 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.59%. This is a boost from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s dividend payout ratio is 71.91%.

Hedge Funds Weigh In On TC Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Addenda Capital Inc. lifted its stake in shares of TC Energy by 4.4% in the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock valued at $48,135,000 after acquiring an additional 43,639 shares during the last quarter. Captrust Financial Advisors grew its holdings in TC Energy by 1.3% during the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after acquiring an additional 242 shares during the last quarter. Ritholtz Wealth Management raised its stake in shares of TC Energy by 44.8% during the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock valued at $1,115,000 after acquiring an additional 7,412 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of TC Energy in the third quarter worth $3,771,000. Finally, Harvest Portfolios Group Inc. increased its holdings in TC Energy by 107.7% in the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after purchasing an additional 117,176 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

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.