TC Energy (NYSE:TRP) Raised to Strong-Buy at Veritas

TC Energy (NYSE:TRP) (TSE:TRP) was upgraded by investment analysts at Veritas from a “strong sell” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

TRP has been the topic of a number of other research reports. The Goldman Sachs Group raised their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Royal Bank of Canada boosted their target price on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday. TD Securities initiated coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, BMO Capital Markets boosted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, TC Energy has a consensus rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Stock Performance

Shares of TRP opened at $45.89 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The stock has a 50-day moving average price of $46.53 and a 200-day moving average price of $46.62. The company has a market cap of $47.68 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 4.43 and a beta of 0.81. TC Energy has a 12-month low of $31.83 and a 12-month high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.54. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 11.95%. During the same period in the previous year, the business posted $1.35 earnings per share. As a group, equities analysts forecast that TC Energy will post 2.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TC Energy

Several institutional investors have recently added to or reduced their stakes in TRP. Creative Planning raised its stake in shares of TC Energy by 4.1% during the third quarter. Creative Planning now owns 46,779 shares of the pipeline company’s stock valued at $2,224,000 after acquiring an additional 1,829 shares during the last quarter. Blue Trust Inc. grew its stake 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 purchasing an additional 267 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in TC Energy by 26.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 9,651 shares of the pipeline company’s stock valued at $459,000 after purchasing an additional 1,993 shares during the period. Signaturefd LLC raised its position in TC Energy by 15.6% during the 3rd quarter. Signaturefd LLC now owns 18,929 shares of the pipeline company’s stock valued at $900,000 after purchasing an additional 2,556 shares during the last quarter. Finally, Eastern Bank purchased a new stake in TC Energy in the 3rd quarter worth approximately $166,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

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.