TC Energy Corporation (NYSE:TRP) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• TC Energy has a “Moderate Buy” consensus rating from 14 analysts: eight recommend buying, five advise holding, and one gives a strong-buy rating. The average 12-month price target is $89.
• The company reported quarterly EPS of $0.68, exceeding analyst estimates of $0.61, while revenue of $2.80 billion also topped expectations.
• TC Energy announced a quarterly dividend of $0.8775 per share, equivalent to a 5.7% annualized yield; its dividend payout ratio is currently high at 102.49%.

TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP has been assigned an average rating of "Moderate Buy" from the fourteen research firms that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $89.00.

Several equities analysts have recently issued reports on TRP shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of TC Energy in a research report on Friday, July 31st. Royal Bank Of Canada raised their price objective on shares of TC Energy from $104.00 to $106.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of TC Energy in a report on Tuesday, May 26th. BMO Capital Markets reiterated an "outperform" rating and issued a $99.00 target price on shares of TC Energy in a research note on Friday, July 31st. Finally, Barclays reiterated an "overweight" rating on shares of TC Energy in a report on Thursday, July 16th.

Institutional Trading of TC Energy

A number of institutional investors and hedge funds have recently modified their holdings of TRP. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of TC Energy during the fourth quarter valued at $25,000. Sterling Capital Management LLC bought a new stake in TC Energy in the 1st quarter worth about $26,000. McIlrath & Eck LLC bought a new stake in TC Energy in the 4th quarter worth about $32,000. Trust Co. of Vermont purchased a new position in TC Energy in the 2nd quarter worth about $33,000. Finally, SWAN Capital LLC bought a new position in TC Energy during the 3rd quarter valued at about $40,000. Institutional investors own 83.13% of the company's stock.

TC Energy Stock Performance

Shares of TRP opened at $61.87 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.64. The stock has a market cap of $64.46 billion, a P/E ratio of 25.67 and a beta of 0.66. The business's 50 day moving average price is $66.33 and its 200-day moving average price is $65.37. TC Energy has a 52 week low of $49.27 and a 52 week high of $71.47.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Thursday, July 30th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.07. TC Energy had a return on equity of 11.10% and a net margin of 22.91%.The business had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.76 billion. During the same quarter in the previous year, the business earned $0.82 earnings per share. Equities research analysts anticipate that TC Energy will post 2.78 earnings per share for the current fiscal year.

TC Energy Announces Dividend

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

TC Energy Company Profile

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.

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