TC Energy Corporation (NYSE:TRP) Receives Average Rating of “Moderate Buy” from Analysts

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat Ratings 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 1 year price objective among analysts that have issued a report on the stock in the last year is $89.00.

TRP has been the subject of a number of recent research reports. The Goldman Sachs Group raised TC Energy from a “sell” rating to a “neutral” rating and increased their target price for the stock from $53.00 to $62.00 in a report on Monday, April 20th. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research note on Thursday, July 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of TC Energy in a research report on Friday, July 31st. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st. Finally, BMO Capital Markets reissued an “outperform” rating and set a $99.00 price objective on shares of TC Energy in a report on Friday, July 31st.

Hedge Funds Weigh In On TC Energy

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in TC Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after buying an additional 980,221 shares during the last quarter. FIL Ltd boosted its holdings in shares of TC Energy by 3.9% in the 4th quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock worth $1,558,669,000 after acquiring an additional 1,052,166 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of TC Energy by 6.3% in the 4th quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock worth $1,150,656,000 after acquiring an additional 1,244,525 shares in the last quarter. GQG Partners LLC grew its position in TC Energy by 586.5% during the 4th quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock worth $890,711,000 after acquiring an additional 13,801,371 shares during the last quarter. Finally, Deutsche Bank AG grew its position in TC Energy by 63.2% during the 4th quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company’s stock worth $846,288,000 after acquiring an additional 5,956,263 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Price Performance

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

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations 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 last year, the company earned $0.82 earnings per share. As a group, research analysts expect that TC Energy will post 2.73 EPS for the current fiscal year.

TC Energy Announces Dividend

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

TC Energy Company Profile

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.