TC Energy Corporation (NYSE:TRP) Given Average Rating of “Moderate Buy” by Brokerages

TC Energy Corporation (NYSE:TRP) (TSE:TRP) has been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $62.00.

Several equities research analysts recently issued reports on the company. Cibc World Mkts upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 2nd. Citigroup assumed coverage on TC Energy in a research report on Friday, April 4th. They issued a “neutral” rating for the company. Finally, CIBC upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a research note on Friday, May 2nd.

TC Energy Price Performance

TC Energy stock opened at $48.28 on Wednesday. The company’s 50 day simple moving average is $49.45 and its 200-day simple moving average is $47.76. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.63 and a current ratio of 0.70. TC Energy has a 1 year low of $37.07 and a 1 year high of $51.99. The company has a market capitalization of $50.21 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 4.60 and a beta of 0.76.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a net margin of 29.17% and a return on equity of 11.41%. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the business posted $1.02 EPS. As a group, equities research analysts expect that TC Energy will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.6142 dividend. This represents a $2.46 annualized dividend and a dividend yield of 5.09%. The ex-dividend date is Monday, June 30th. TC Energy’s payout ratio is presently 82.51%.

Institutional Trading of TC Energy

A number of large investors have recently made changes to their positions in the company. Lowe Wealth Advisors LLC purchased a new position in TC Energy in the first quarter valued at $30,000. SBI Securities Co. Ltd. acquired a new position in shares of TC Energy during the 4th quarter worth about $31,000. Synergy Investment Management LLC purchased a new position in shares of TC Energy in the 4th quarter valued at about $36,000. Millstone Evans Group LLC purchased a new position in shares of TC Energy in the 4th quarter valued at about $41,000. Finally, TruNorth Capital Management LLC acquired a new stake in shares of TC Energy during the 1st quarter worth about $45,000. 83.13% of the stock is currently owned by hedge funds and other 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.