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

Key Points

• TC Energy has a consensus analyst rating of “Moderate Buy” from 14 brokerages, with an average 12-month price target of $78.50.
• The stock fell 1.0% to $67.27 in Friday trading, while the company reported quarterly EPS of $0.72, beating estimates by $0.02 but coming in below last year’s $0.95.
• TC Energy declared a quarterly dividend of $0.8775 per share, implying an annualized yield of about 5.2%; however, its payout ratio is high at 107.39%.

Shares of TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP have been assigned an average recommendation of "Moderate Buy" from the fourteen ratings firms that are currently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $78.50.

Several analysts have recently issued reports on TRP shares. Morgan Stanley cut shares of TC Energy from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, June 10th. Royal Bank Of Canada upped their price objective on TC Energy from $92.00 to $95.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. Barclays reiterated an "overweight" rating on shares of TC Energy in a research note on Monday, May 4th. BMO Capital Markets reaffirmed an "outperform" rating on shares of TC Energy in a research report on Monday, May 4th. Finally, The Goldman Sachs Group upgraded shares of TC Energy from a "sell" rating to a "neutral" rating and upped their target price for the stock from $53.00 to $62.00 in a research note on Monday, April 20th.

TC Energy Trading Down 1.0%

Shares of NYSE TRP traded down $0.69 during trading on Friday, reaching $67.27. The stock had a trading volume of 3,079,252 shares, compared to its average volume of 2,495,869. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.57 and a current ratio of 0.65. The company has a market cap of $70.09 billion, a P/E ratio of 29.20 and a beta of 0.66. TC Energy has a fifty-two week low of $46.61 and a fifty-two week high of $71.47. The business's 50-day moving average price is $68.04 and its 200-day moving average price is $62.98.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.20 billion. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.During the same quarter in the prior year, the company earned $0.95 EPS. On average, equities research analysts predict that TC Energy will post 2.72 EPS for the current fiscal year.

TC Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be given a $0.8775 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.2%. TC Energy's dividend payout ratio is currently 107.39%.

Hedge Funds Weigh In On TC Energy

Several large investors have recently bought and sold shares of the business. Groupe la Francaise raised its stake in TC Energy by 2.1% in the first quarter. Groupe la Francaise now owns 7,352 shares of the pipeline company's stock valued at $459,000 after buying an additional 154 shares in the last quarter. Wealthstar Advisors LLC increased its holdings in shares of TC Energy by 1.5% in the 1st quarter. Wealthstar Advisors LLC now owns 11,465 shares of the pipeline company's stock valued at $718,000 after acquiring an additional 165 shares during the last quarter. Gold Investment Management Ltd. raised its position in shares of TC Energy by 2.0% during the 4th quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company's stock worth $549,000 after acquiring an additional 200 shares in the last quarter. Kennebec Savings Bank raised its position in shares of TC Energy by 2.1% during the 4th quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company's stock worth $542,000 after acquiring an additional 203 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its stake in TC Energy by 5.7% during the first quarter. Nations Financial Group Inc. IA ADV now owns 3,911 shares of the pipeline company's stock worth $245,000 after purchasing an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 83.13% of the company's stock.

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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