TC Energy (NYSE:TRP) Research Coverage Started at StockNews.com

by · The Markets Daily

Equities researchers at StockNews.com initiated coverage on shares of TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) in a report issued on Saturday. The brokerage set a “hold” rating on the pipeline company’s stock.

A number of other analysts have also weighed in on the stock. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $43.50.

View Our Latest Report on TC Energy

TC Energy Stock Up 1.7 %

Shares of TC Energy stock opened at $45.11 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. TC Energy has a 1-year low of $32.56 and a 1-year high of $48.42. The business’s fifty day moving average price is $45.17 and its two-hundred day moving average price is $40.81. The company has a market capitalization of $45.11 billion, a P/E ratio of 23.25, a PEG ratio of 3.57 and a beta of 0.81.

TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last issued its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same period in the previous year, the business earned $0.71 earnings per share. As a group, research analysts forecast that TC Energy will post 3.08 EPS for the current year.

Institutional Trading of TC Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC acquired a new position in TC Energy in the first quarter worth approximately $1,159,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in TC Energy by 15.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,109,055 shares of the pipeline company’s stock worth $81,599,000 after purchasing an additional 278,886 shares during the period. M&G Plc purchased a new position in TC Energy during the 1st quarter worth approximately $111,587,000. Cetera Investment Advisers lifted its holdings in shares of TC Energy by 74.1% in the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock valued at $3,972,000 after purchasing an additional 42,024 shares in the last quarter. Finally, Maryland State Retirement & Pension System boosted its position in shares of TC Energy by 1.8% in the first quarter. Maryland State Retirement & Pension System now owns 1,302,358 shares of the pipeline company’s stock worth $52,355,000 after buying an additional 22,430 shares during the period. 83.13% of the stock is currently owned by institutional investors.

About TC Energy

(Get Free Report)

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.

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