TC Energy (NYSE:TRP) Coverage Initiated at TD Securities

Stock analysts at TD Securities initiated coverage on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating on the pipeline company’s stock.

A number of other research firms have also recently weighed in on TRP. StockNews.com initiated coverage on TC Energy in a report on Wednesday, December 4th. They set a “hold” rating on the stock. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.67.

TC Energy Stock Performance

NYSE:TRP opened at $46.10 on Wednesday. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37. The firm’s fifty day simple moving average is $47.68 and its 200 day simple moving average is $45.49. 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 firm has a market capitalization of $47.88 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 4.31 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. As a group, equities research analysts expect that TC Energy will post 2.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TC Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in TRP. Fortitude Family Office LLC bought a new stake in shares of TC Energy in the 3rd quarter valued at $28,000. Blue Trust Inc. grew its stake in TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares during the period. Versant Capital Management Inc bought a new stake in shares of TC Energy in the fourth quarter worth about $33,000. Point72 DIFC Ltd acquired a new stake in shares of TC Energy during the third quarter worth about $39,000. Finally, UMB Bank n.a. bought a new position in shares of TC Energy during the 4th quarter valued at about $47,000. 83.13% of the stock is owned by institutional investors.

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.