TC Energy Corporation (TRP) – What Are Brokerages Thinking About This Stock?

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $92.00.

Several analysts have recently commented on the company. Barclays restated an “overweight” rating on shares of TC Energy in a research note on Thursday, July 16th. Royal Bank Of Canada reaffirmed a “moderate buy” rating and issued a $106.00 target price on shares of TC Energy in a research report on Friday, September 11th. BMO Capital Markets reaffirmed an “outperform” rating and set a $99.00 price target on shares of TC Energy in a research note on Friday, July 31st. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of TC Energy in a report on Friday, July 31st.

TC Energy Trading Down 1.6%

TRP opened at $60.75 on Tuesday. TC Energy has a 1-year low of $49.27 and a 1-year high of $71.47. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. The company has a market cap of $60.75 billion, a P/E ratio of 25.21 and a beta of 0.70. The company has a fifty day moving average price of $61.36 and a two-hundred day moving average price of $64.74.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. TC Energy had a net margin of 22.91% and a return on equity of 11.10%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. Analysts predict that TC Energy will post 2.77 EPS for the current fiscal year.

TC Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be issued a dividend of C$0.88 per share. The ex-dividend date is Tuesday, September 29th. This represents a $3.51 annualized dividend and a dividend yield of 5.8%. TC Energy’s payout ratio is currently 104.98%.

Hedge Funds Weigh In On TC Energy

A number of institutional investors have recently modified their holdings of TRP. Groupe la Francaise lifted its holdings in TC Energy by 2.1% during the first quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company’s stock valued at $459,000 after purchasing an additional 154 shares in the last quarter. Wealthstar Advisors LLC boosted its position in shares of TC Energy by 1.5% in the first quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company’s stock worth $718,000 after purchasing an additional 165 shares during the period. Nations Financial Group Inc. IA ADV boosted its position in shares of TC Energy by 5.7% in the first quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company’s stock worth $245,000 after purchasing an additional 210 shares during the period. Roxbury Financial LLC increased its stake in shares of TC Energy by 4.4% in the first quarter. Roxbury Financial LLC now owns 6,051 shares of the pipeline company’s stock worth $379,000 after purchasing an additional 257 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in shares of TC Energy by 1.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,946 shares of the pipeline company’s stock worth $1,519,000 after purchasing an additional 257 shares in the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

TC Energy Company Profile

TC Energy Corporation (NYSE: TRP) is a North American energy infrastructure company that develops and operates natural gas pipelines, storage facilities, power-generation assets and related energy infrastructure. Its natural gas pipeline network connects major supply basins with utilities, power producers, industrial customers and local distribution companies.

The company’s operations are primarily located in Canada and the United States, with additional natural gas pipeline interests in Mexico.