TC Energy Co. (NYSE:TRP) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP has been given an average rating of "Moderate Buy" by the nine brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $62.00.

A number of research firms have weighed in on TRP. US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Royal Bank of Canada raised their price objective on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. StockNews.com downgraded TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Finally, TD Securities started coverage on TC Energy in a research report on Wednesday, January 15th. They issued a "buy" rating for the company.

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Hedge Funds Weigh In On TC Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in TC Energy in the fourth quarter worth about $31,000. Versant Capital Management Inc bought a new stake in TC Energy during the fourth quarter valued at approximately $33,000. Synergy Investment Management LLC purchased a new stake in TC Energy during the fourth quarter valued at approximately $36,000. Point72 DIFC Ltd bought a new position in TC Energy in the third quarter worth approximately $39,000. Finally, Millstone Evans Group LLC purchased a new position in shares of TC Energy during the 4th quarter worth $41,000. 83.13% of the stock is owned by institutional investors.

TC Energy Trading Down 0.4 %

NYSE:TRP traded down $0.18 during trading hours on Monday, reaching $48.27. The company's stock had a trading volume of 1,122,035 shares, compared to its average volume of 2,494,333. TC Energy has a 1 year low of $34.95 and a 1 year high of $50.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The firm has a 50-day simple moving average of $46.48 and a 200-day simple moving average of $46.92. The firm has a market capitalization of $50.16 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 4.34 and a beta of 0.83.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period in the prior year, the business posted $1.35 earnings per share. Research analysts expect that TC Energy will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 7.04%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from TC Energy's previous quarterly dividend of $0.82. TC Energy's payout ratio is 72.53%.

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.