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

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have been given a consensus rating of “Moderate Buy” by the fourteen research firms that are presently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $78.50.

Several equities analysts have recently issued reports on TRP shares. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research report on Monday, May 4th. National Bank Financial raised TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Raymond James Financial raised TC Energy to a “hold” rating in a research report on Tuesday, February 17th. The Goldman Sachs Group raised TC Energy from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $53.00 to $62.00 in a research report on Monday, April 20th. Finally, Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research report on Monday, May 4th.

Hedge Funds Weigh In On TC Energy

Hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC purchased a new position in TC Energy in the 1st quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in TC Energy in the 4th quarter worth about $25,000. Trust Co. of Vermont purchased a new position in TC Energy in the 4th quarter worth about $28,000. McIlrath & Eck LLC purchased a new position in TC Energy in the 4th quarter worth about $32,000. Finally, SWAN Capital LLC purchased a new position in TC Energy in the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of TRP stock opened at $68.88 on Wednesday. TC Energy has a 12 month low of $46.29 and a 12 month high of $71.47. The stock has a market cap of $68.88 billion, a PE ratio of 29.90 and a beta of 0.66. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 1.67. The company’s fifty day moving average price is $65.91 and its 200-day moving average price is $61.29.

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

TC Energy Dividend Announcement

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

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.