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

TC Energy Corporation (NYSE:TRP) (TSE:TRP) has earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $84.00.

TRP has been the subject of several analyst reports. TD Securities restated a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. Royal Bank Of Canada upped their price target on TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a research note on Monday. BMO Capital Markets upgraded TC Energy from a “market perform” rating to an “outperform” rating in a research note on Friday, November 7th. Finally, Citigroup reissued a “neutral” rating on shares of TC Energy in a report on Thursday, November 20th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in TC Energy by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 46,821,474 shares of the pipeline company’s stock worth $2,545,777,000 after buying an additional 914,168 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of TC Energy by 2.5% in the third quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock worth $2,282,469,000 after acquiring an additional 1,041,864 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of TC Energy by 5.9% in the second quarter. Canada Pension Plan Investment Board now owns 20,986,748 shares of the pipeline company’s stock worth $1,025,220,000 after acquiring an additional 1,178,190 shares during the period. TD Asset Management Inc grew its position in shares of TC Energy by 2.9% during the third quarter. TD Asset Management Inc now owns 19,624,247 shares of the pipeline company’s stock worth $1,067,246,000 after purchasing an additional 550,066 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in TC Energy by 2,565.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock valued at $769,815,000 after purchasing an additional 15,694,336 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 0.5%

TC Energy stock opened at $56.11 on Wednesday. TC Energy has a 52-week low of $43.51 and a 52-week high of $56.34. The company has a market cap of $58.40 billion, a P/E ratio of 24.19 and a beta of 0.70. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 1.60. The business has a 50-day simple moving average of $53.49 and a two-hundred day simple moving average of $51.47.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $2.63 billion. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. During the same period in the previous year, the business posted $1.03 earnings per share. Analysts predict that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 6.1%. This is a boost from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Wednesday, December 31st. TC Energy’s dividend payout ratio is currently 104.74%.

About TC Energy

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.