TC Energy (NYSE:TRP) Raised to “Buy” at StockNews.com

TC Energy (NYSE:TRP) (TSE:TRP) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Several other research firms also recently issued reports on TRP. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. TD Securities started coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. BMO Capital Markets boosted their price target on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada upped their target price on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, TC Energy currently has an average rating of “Hold” and a consensus target price of $62.00.

TC Energy Stock Down 1.1 %

Shares of NYSE:TRP traded down $0.49 during trading on Wednesday, hitting $45.89. 1,677,430 shares of the company were exchanged, compared to its average volume of 2,121,049. The stock has a market cap of $47.68 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 4.35 and a beta of 0.81. TC Energy has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The firm has a fifty day moving average price of $46.56 and a two-hundred day moving average price of $46.63. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a return on equity of 11.95% and a net margin of 29.40%. During the same period in the previous year, the firm earned $1.35 EPS. As a group, research analysts anticipate that TC Energy will post 2.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRP. Fortitude Family Office LLC bought a new position in shares of TC Energy in the third quarter valued at approximately $28,000. Blue Trust Inc. boosted its holdings in shares of TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 267 shares during the period. SBI Securities Co. Ltd. bought a new stake in TC Energy during the fourth quarter valued at $31,000. Versant Capital Management Inc bought a new stake in TC Energy during the fourth quarter valued at $33,000. Finally, Synergy Investment Management LLC bought a new stake in TC Energy during the fourth quarter valued at $36,000. Institutional investors own 83.13% of the company’s stock.

TC Energy Company Profile

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.