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

Key Points

• TC Energy Corporation has received a consensus rating of "Moderate Buy" from twelve ratings firms, with an average 12-month price target of $62.00.
• The company's shares opened at $51.82 and have experienced a growth of 1.2%, with a market capitalization of $53.89 billion.
• TC Energy has announced an increase in its quarterly dividend to $0.6148, yielding 4.7%, set to be paid out on October 31st.

Shares of TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP have been given a consensus rating of "Moderate Buy" by the twelve ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $62.00.

Several equities research analysts recently commented on TRP shares. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a research report on Thursday, August 14th. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Finally, Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd.

Institutional Investors Weigh In On TC Energy

Several institutional investors have recently added to or reduced their stakes in TRP. Lowe Wealth Advisors LLC bought a new stake in TC Energy in the 1st quarter valued at $30,000. Hilltop National Bank acquired a new stake in TC Energy in the 2nd quarter valued at $32,000. Harbor Asset Planning Inc. acquired a new stake in TC Energy in the 2nd quarter valued at $43,000. TruNorth Capital Management LLC acquired a new stake in TC Energy in the 1st quarter valued at $45,000. Finally, Truvestments Capital LLC acquired a new stake in TC Energy in the 1st quarter valued at $45,000. 83.13% of the stock is owned by institutional investors.

TC Energy Trading Up 1.2%

Shares of NYSE TRP opened at $51.8180 on Thursday. The company's fifty day moving average is $48.50 and its 200-day moving average is $48.21. The stock has a market cap of $53.89 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 4.90 and a beta of 0.75. TC Energy has a twelve month low of $40.00 and a twelve month high of $52.10. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The company had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period last year, the firm posted $0.79 earnings per share. Equities research analysts predict that TC Energy will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a $0.6148 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.46 annualized dividend and a yield of 4.7%. This is an increase from TC Energy's previous quarterly dividend of $0.61. TC Energy's payout ratio is presently 85.32%.

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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