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

Shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) have earned an average rating of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $62.00.

A number of brokerages have commented on TRP. Royal Bank of Canada upped their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. TD Securities initiated coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th.

TC Energy Stock Performance

NYSE TRP opened at $48.02 on Monday. The firm’s fifty day moving average price is $46.54 and its two-hundred day moving average price is $46.95. The stock has a market cap of $49.90 billion, a PE ratio of 14.82, a PEG ratio of 4.34 and a beta of 0.83. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. TC Energy has a fifty-two week low of $34.95 and a fifty-two week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.54. The firm 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 period in the prior year, the company posted $1.35 EPS. On average, equities analysts expect that TC Energy will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.85 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 7.08%. TC Energy’s payout ratio is 72.53%.

Hedge Funds Weigh In On TC Energy

Large investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in TC Energy by 23.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,066 shares of the pipeline company’s stock valued at $980,000 after acquiring an additional 4,033 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of TC Energy in the 4th quarter worth about $10,436,000. Value Partners Investments Inc. bought a new position in shares of TC Energy during the 4th quarter valued at about $245,000. Parr Mcknight Wealth Management Group LLC purchased a new position in shares of TC Energy during the 4th quarter valued at about $2,510,000. Finally, Public Employees Retirement System of Ohio lifted its position in TC Energy by 343.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 351,705 shares of the pipeline company’s stock worth $16,375,000 after buying an additional 272,457 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors.

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.