TC Energy Corporation (NYSE:TRP) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• TC Energy Corporation (NYSE:TRP) has received an average recommendation of "Moderate Buy" from analysts, with mixed ratings including one sell, three holds, seven buys, and two strong buys.
• The company's quarterly earnings report showed an EPS of $0.59, beating estimates but with revenue of $1.82 billion, lower than the expected $2.56 billion.
• TC Energy has increased its quarterly dividend to $0.6148 per share, reflecting a boost from the previous quarter and representing a 4.7% dividend yield.

Shares of TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP have earned an average recommendation of "Moderate Buy" from the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $62.00.

Several research firms recently issued reports on TRP. Wall Street Zen raised TC Energy from a "sell" rating to a "hold" rating in a research report on Saturday. Barclays reissued an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. Finally, US Capital Advisors lowered shares of TC Energy from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 21st.

TC Energy Trading Up 0.4%

Shares of TRP opened at $52.31 on Monday. TC Energy has a one year low of $40.76 and a one year high of $52.49. The stock has a 50-day moving average price of $49.68 and a 200 day moving average price of $48.91. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The company has a market capitalization of $54.39 billion, a P/E ratio of 17.85, a P/E/G ratio of 5.01 and a beta of 0.77.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.The firm had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same quarter in the prior year, the firm posted $0.79 earnings per share. Sell-side analysts forecast 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 Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a dividend of $0.6148 per share. This represents a $2.46 annualized dividend and a dividend yield of 4.7%. This is a boost from TC Energy's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, September 29th. TC Energy's dividend payout ratio is currently 85.32%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth boosted its holdings in shares of TC Energy by 10.5% during the fourth quarter. Focus Partners Wealth now owns 8,517 shares of the pipeline company's stock valued at $396,000 after acquiring an additional 808 shares during the period. Nomura Holdings Inc. acquired a new stake in TC Energy in the fourth quarter worth approximately $267,000. Quantinno Capital Management LP boosted its stake in TC Energy by 21.7% during the fourth quarter. Quantinno Capital Management LP now owns 27,800 shares of the pipeline company's stock valued at $1,294,000 after buying an additional 4,955 shares in the last quarter. State of Wyoming boosted its position in shares of TC Energy by 126.8% during the 4th quarter. State of Wyoming now owns 10,250 shares of the pipeline company's stock valued at $477,000 after purchasing an additional 5,730 shares in the last quarter. Finally, Twinbeech Capital LP acquired a new position in TC Energy in the fourth quarter worth approximately $558,000. 83.13% of the stock is currently owned by institutional investors.

About TC Energy

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.

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