StockNews.com Downgrades TC Energy (NYSE:TRP) to Hold

TC Energy (NYSE:TRP) (TSE:TRP) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

TRP has been the subject of a number of other research reports. Royal Bank of Canada raised their price objective on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. BMO Capital Markets lifted their price target on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Finally, TD Securities began coverage on TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Trading Up 0.8 %

Shares of NYSE:TRP opened at $45.86 on Thursday. TC Energy has a 12-month low of $31.83 and a 12-month high of $50.37. The business’s fifty day simple moving average is $46.28 and its 200-day simple moving average is $46.72. The company has a market capitalization of $47.66 billion, a PE ratio of 14.15, a P/E/G ratio of 4.34 and a beta of 0.83. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data 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 firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter last year, the firm earned $1.35 EPS. As a group, equities research analysts predict that TC Energy will post 2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in TC Energy by 3.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,033 shares of the pipeline company’s stock valued at $810,000 after acquiring an additional 631 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in TC Energy by 215.7% in the third quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 826 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in TC Energy by 1.1% in the third quarter. Janney Montgomery Scott LLC now owns 77,906 shares of the pipeline company’s stock valued at $3,704,000 after acquiring an additional 840 shares during the last quarter. Heronetta Management L.P. lifted its stake in TC Energy by 4.9% during the third quarter. Heronetta Management L.P. now owns 127,486 shares of the pipeline company’s stock worth $6,062,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Executive Wealth Management LLC acquired a new position in TC Energy during the third quarter worth $443,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

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.