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 thirteen research firms, with one sell rating and two strong buy ratings among them.
• The company recently announced a quarterly dividend of $0.6148 per share, marking an increase from its previous dividend and representing a 4.7% yield.
• TC Energy's stock is currently trading at $52.70, with a market capitalization of $54.83 billion and a price-to-earnings ratio of 17.99.

Shares of TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP have been given a consensus rating of "Moderate Buy" by the thirteen research firms that are covering the firm, 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 assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $62.00.

Several research firms have recently commented on TRP. Wall Street Zen cut TC Energy from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. Weiss Ratings reissued a "buy (b-)" rating on shares of TC Energy in a report on Wednesday. US Capital Advisors lowered TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. Finally, Barclays reaffirmed an "overweight" rating on shares of TC Energy in a research note on Thursday, August 14th.

TC Energy Trading Down 2.8%

TRP stock opened at $52.70 on Friday. TC Energy has a fifty-two week low of $43.51 and a fifty-two week high of $55.37. The stock has a market capitalization of $54.83 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 5.07 and a beta of 0.75. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The business has a fifty day moving average price of $51.92 and a 200 day moving average price of $49.75.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. The firm had revenue of $1.82 billion during 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 quarter last year, the company posted $0.79 EPS. Analysts expect that TC Energy will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be issued 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 annualized dividend and a yield of 4.7%. TC Energy's dividend payout ratio is currently 84.30%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Hilltop National Bank acquired a new stake in shares of TC Energy in the 2nd quarter valued at approximately $32,000. Harbor Asset Planning Inc. acquired a new stake in TC Energy in the second quarter valued at $43,000. TruNorth Capital Management LLC acquired a new stake in TC Energy in the first quarter valued at $45,000. Truvestments Capital LLC acquired a new stake in TC Energy in the first quarter valued at $45,000. Finally, Sagard Holdings Management Inc. acquired a new stake in TC Energy in the second quarter valued at $46,000. 83.13% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.