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

Key Points

• Analyst consensus: TC Energy has a "Moderate Buy" average rating from 14 analysts (8 buys, 6 holds) with a 1‑year average target of $77.00.
• Dividend hike: The quarterly dividend was raised to $0.8775 (from $0.85), annualized at $3.51 for a ~5.7% yield, though the payout ratio is high at ~108.6%.
• Recent results and valuation: Q1 EPS was $0.70 (ahead of $0.65 est.) while revenue of $2.20B missed expectations of $2.94B; the stock trades with a market cap of $64.54B and a P/E of 26.66.

Shares of TC Energy Corporation (NYSE:TRP - Get Free Report) TSE: TRP have received an average rating of "Moderate Buy" from the fourteen ratings firms that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $77.00.

Several research firms have recently commented on TRP. Weiss Ratings upgraded shares of TC Energy from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, April 21st. Raymond James Financial raised shares of TC Energy to a "hold" rating in a research report on Tuesday, February 17th. Wall Street Zen raised shares of TC Energy from a "sell" rating to a "hold" rating in a research report on Saturday, February 14th. Morgan Stanley reiterated an "overweight" rating on shares of TC Energy in a research report on Wednesday, January 28th. Finally, The Goldman Sachs Group upgraded TC Energy from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $53.00 to $62.00 in a research report on Monday, April 20th.

TC Energy Price Performance

Shares of NYSE:TRP opened at $61.95 on Tuesday. TC Energy has a 12 month low of $46.29 and a 12 month high of $65.57. The stock has a market cap of $64.54 billion, a price-to-earnings ratio of 26.66 and a beta of 0.69. The stock's 50 day moving average price is $62.96 and its 200 day moving average price is $57.58. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.63 and a quick ratio of 0.56.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. TC Energy had a return on equity of 10.52% and a net margin of 23.04%.The firm had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter in the previous year, the company earned $1.05 earnings per share. Equities research analysts anticipate that TC Energy will post 2.78 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.8775 per share. This is a positive change from TC Energy's previous quarterly dividend of $0.85. This represents a $3.51 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Tuesday, March 31st. TC Energy's payout ratio is currently 108.62%.

Institutional Trading of TC Energy

Several hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC bought a new position in TC Energy in the first quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of TC Energy during the fourth quarter worth $25,000. Trust Co. of Vermont acquired a new stake in shares of TC Energy during the fourth quarter worth $28,000. McIlrath & Eck LLC acquired a new stake in shares of TC Energy during the fourth quarter worth $32,000. Finally, Westside Investment Management Inc. raised its holdings in shares of TC Energy by 100.0% during the third quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company's stock worth $32,000 after acquiring an additional 297 shares during the period. 83.13% of the stock is owned by institutional investors.

About TC Energy

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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