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

TC Energy Corporation (NYSE:TRP) (TSE:TRP) has been given a consensus recommendation of “Moderate Buy” by the fourteen analysts that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $89.00.

A number of research firms have issued reports on TRP. Weiss Ratings restated a “buy (b)” rating on shares of TC Energy in a research note on Friday, July 31st. Morgan Stanley cut shares of TC Energy from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 10th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of TC Energy in a research note on Tuesday, May 26th. National Bank Financial raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Finally, Scotiabank restated an “outperform” rating on shares of TC Energy in a research note on Tuesday, July 21st.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. FIL Ltd lifted its position in shares of TC Energy by 3.9% during the 4th quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock valued at $1,558,669,000 after buying an additional 1,052,166 shares in the last quarter. TD Asset Management Inc increased its holdings in TC Energy by 6.3% in the 4th quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock worth $1,150,656,000 after acquiring an additional 1,244,525 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in TC Energy in the 2nd quarter worth approximately $1,148,244,000. GQG Partners LLC bought a new stake in TC Energy during the 2nd quarter worth approximately $1,107,936,000. Finally, Deutsche Bank AG raised its stake in TC Energy by 1.3% during the 2nd quarter. Deutsche Bank AG now owns 15,821,521 shares of the pipeline company’s stock worth $1,048,809,000 after acquiring an additional 196,543 shares during the period. Institutional investors own 83.13% of the company’s stock.

TC Energy Price Performance

Shares of TRP opened at $61.87 on Monday. The firm has a fifty day simple moving average of $66.33 and a two-hundred day simple moving average of $65.37. The firm has a market cap of $64.46 billion, a PE ratio of 25.67 and a beta of 0.66. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.64. TC Energy has a 1-year low of $49.27 and a 1-year high of $71.47.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.During the same quarter in the previous year, the company posted $0.82 earnings per share. On average, equities analysts anticipate that TC Energy will post 2.78 EPS for the current year.

TC Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be issued a dividend of $0.8775 per share. This represents a $3.51 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Tuesday, September 29th. TC Energy’s payout ratio is currently 102.49%.

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.