TC Energy Co. (NYSE:TRP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

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

TRP has been the topic of a number of research analyst reports. BMO Capital Markets raised their price target on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday, February 3rd. StockNews.com raised TC Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, TD Securities started coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock.

TC Energy Stock Up 3.0 %

Shares of NYSE:TRP opened at $46.37 on Thursday. The stock’s 50-day moving average price is $46.30 and its two-hundred day moving average price is $46.72. 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 has a 12-month low of $31.83 and a 12-month high of $50.37. The firm has a market cap of $48.19 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly 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. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period last year, the company earned $1.35 EPS. On average, research analysts forecast that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 7.33%. TC Energy’s payout ratio is 72.53%.

Hedge Funds Weigh In On TC Energy

Several hedge funds and other institutional investors have recently bought and sold shares of TRP. Blue Trust Inc. lifted its position in TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 267 shares in the last quarter. Private Advisor Group LLC lifted its position in TC Energy by 7.4% during the 3rd quarter. Private Advisor Group LLC now owns 27,480 shares of the pipeline company’s stock worth $1,307,000 after acquiring an additional 1,888 shares in the last quarter. International Assets Investment Management LLC acquired a new position in TC Energy during the 3rd quarter worth approximately $3,034,000. Assenagon Asset Management S.A. lifted its position in TC Energy by 19.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 32,312 shares of the pipeline company’s stock worth $1,538,000 after acquiring an additional 5,275 shares in the last quarter. Finally, PFG Investments LLC acquired a new position in TC Energy during the 3rd quarter worth approximately $239,000. 83.13% of the stock is 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.