TC Energy Co. (NYSE:TRP) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of TC Energy Co. (NYSE:TRP - Get Free Report) TSE: TRP have earned a consensus rating of "Moderate Buy" from the twelve brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $62.00.

A number of analysts have issued reports on the company. Wall Street Zen lowered TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Citigroup began coverage on TC Energy in a research report on Friday, April 4th. They set a "neutral" rating on the stock. Finally, Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd.

Hedge Funds Weigh In On TC Energy

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of TC Energy by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 44,397,978 shares of the pipeline company's stock worth $2,096,739,000 after acquiring an additional 710,837 shares during the period. FIL Ltd raised its holdings in TC Energy by 10.3% during the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock worth $1,325,558,000 after purchasing an additional 2,644,627 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in TC Energy by 34.2% in the first quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company's stock valued at $935,627,000 after purchasing an additional 5,053,228 shares during the period. TD Asset Management Inc lifted its position in TC Energy by 6.2% in the first quarter. TD Asset Management Inc now owns 17,455,740 shares of the pipeline company's stock valued at $824,243,000 after purchasing an additional 1,018,590 shares during the period. Finally, Bank of Nova Scotia boosted its holdings in TC Energy by 80.3% in the 1st quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company's stock valued at $802,164,000 after purchasing an additional 7,562,887 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Stock Performance

Shares of NYSE:TRP traded up $0.11 during trading on Friday, hitting $49.56. 4,462,747 shares of the stock traded hands, compared to its average volume of 2,446,567. The company has a fifty day moving average price of $49.19 and a two-hundred day moving average price of $47.67. The company has a market cap of $51.53 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 4.34 and a beta of 0.78. TC Energy has a 52-week low of $37.07 and a 52-week high of $51.99. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). The business had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $2.57 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the previous year, the company earned $1.02 EPS. As a group, equities analysts predict that TC Energy will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.6142 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 annualized dividend and a dividend yield of 4.96%. TC Energy's dividend payout ratio (DPR) is 81.52%.

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.