TC Energy Corporation (NYSE:TRP) Receives Consensus Recommendation 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.

TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP has been given a consensus recommendation of "Moderate Buy" by the thirteen ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $62.00.

Several research firms have recently weighed in on TRP. Barclays restated an "overweight" rating on shares of TC Energy in a research report on Thursday, August 14th. US Capital Advisors downgraded TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Finally, Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd.

Hedge Funds Weigh In On TC Energy

A number of institutional investors have recently added to or reduced their stakes in TRP. Goldman Sachs Group Inc. lifted its position in TC Energy by 2,565.1% during the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company's stock worth $769,815,000 after buying an additional 15,694,336 shares in the last quarter. Norges Bank purchased a new position in TC Energy during the second quarter worth approximately $493,434,000. Bank of Nova Scotia lifted its position in TC Energy by 80.3% during the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company's stock worth $802,164,000 after buying an additional 7,562,887 shares in the last quarter. Canada Pension Plan Investment Board raised 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. Finally, Deutsche Bank AG raised its position in TC Energy by 175.1% in the first quarter. Deutsche Bank AG now owns 5,758,203 shares of the pipeline company's stock valued at $271,845,000 after purchasing an additional 3,664,862 shares during the period. Hedge funds and other institutional investors own 83.13% of the company's stock.

TC Energy Price Performance

TRP traded up $0.15 during trading on Thursday, hitting $50.92. The company's stock had a trading volume of 1,272,795 shares, compared to its average volume of 1,495,500. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. TC Energy has a twelve month low of $40.76 and a twelve month high of $52.10. The business's fifty day simple moving average is $48.65 and its 200 day simple moving average is $48.34. The firm has a market capitalization of $52.96 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 4.86 and a beta of 0.75.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same period last year, the company earned $0.79 earnings per share. On average, equities research analysts forecast that TC Energy will post 2.63 EPS for the current fiscal 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 dividend of $0.6148 per share. The ex-dividend date is Monday, September 29th. This is a positive change from TC Energy's previous quarterly dividend of $0.61. This represents a $2.46 dividend on an annualized basis and a yield of 4.8%. TC Energy's dividend payout ratio (DPR) is 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.