TC Energy Corporation (NYSE:TRP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

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

A number of equities analysts have commented on the company. TD Securities reissued a “buy” rating on shares of TC Energy in a report on Friday, October 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a research report on Monday, December 29th. Citigroup reissued a “neutral” rating on shares of TC Energy in a research note on Thursday, November 20th. Wall Street Zen cut shares of TC Energy from a “hold” rating to a “sell” rating in a research note on Sunday, January 4th. Finally, Cibc World Mkts cut shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th.

Institutional Investors Weigh In On TC Energy

Large investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its position in TC Energy by 19.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,607 shares of the pipeline company’s stock worth $144,000 after buying an additional 418 shares in the last quarter. LOM Asset Management Ltd purchased a new stake in TC Energy in the 4th quarter valued at $74,000. Assetmark Inc. boosted its position in shares of TC Energy by 9.7% during the 4th quarter. Assetmark Inc. now owns 131,944 shares of the pipeline company’s stock valued at $7,258,000 after acquiring an additional 11,697 shares during the last quarter. Tectonic Advisors LLC boosted its position in shares of TC Energy by 23.8% during the 4th quarter. Tectonic Advisors LLC now owns 30,719 shares of the pipeline company’s stock valued at $1,690,000 after acquiring an additional 5,912 shares during the last quarter. Finally, FSM Wealth Advisors LLC grew its holdings in shares of TC Energy by 6.9% in the fourth quarter. FSM Wealth Advisors LLC now owns 6,413 shares of the pipeline company’s stock valued at $353,000 after purchasing an additional 412 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Stock Performance

NYSE:TRP opened at $56.25 on Friday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63. The stock has a market capitalization of $58.55 billion, a PE ratio of 24.25 and a beta of 0.72. TC Energy has a fifty-two week low of $43.51 and a fifty-two week high of $56.34. The company has a fifty day moving average of $54.54 and a two-hundred day moving average of $52.29.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, November 6th. The pipeline company reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $2.63 billion. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. During the same quarter in the previous year, the company earned $1.03 earnings per share. As a group, research analysts forecast that TC Energy will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Wednesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.61. TC Energy’s payout ratio is currently 106.47%.

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.