StockNews.com Begins Coverage on TC Energy (NYSE:TRP)

StockNews.com started coverage on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a report issued on Thursday. The firm set a “hold” rating on the pipeline company’s stock.

Separately, Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $43.50.

TC Energy Price Performance

TRP opened at $46.02 on Thursday. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. TC Energy has a 52-week low of $32.51 and a 52-week high of $47.38. The company has a 50 day moving average of $43.75 and a two-hundred day moving average of $40.29. The company has a market cap of $46.02 billion, a P/E ratio of 23.72, a P/E/G ratio of 3.81 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the firm earned $0.71 earnings per share. On average, analysts expect that TC Energy will post 3.06 earnings per share for the current year.

Institutional Trading of TC Energy

Institutional investors have recently added to or reduced their stakes in the stock. EdgeRock Capital LLC acquired a new stake in TC Energy in the second quarter valued at $25,000. Creekmur Asset Management LLC acquired a new stake in shares of TC Energy during the fourth quarter worth $27,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of TC Energy by 138.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 429 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in shares of TC Energy during the fourth quarter worth $31,000. Finally, Mather Group LLC. acquired a new stake in shares of TC Energy during the second quarter worth $33,000. 83.13% of the stock is owned by institutional investors and hedge funds.

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.