Citigroup Begins Coverage on TC Energy (NYSE:TRP)

Investment analysts at Citigroup assumed coverage on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a report released on Friday, Marketbeat Ratings reports. The brokerage set a “neutral” rating on the pipeline company’s stock.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada boosted their price target on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. StockNews.com cut TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, TD Securities initiated coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Price Performance

Shares of NYSE TRP opened at $46.07 on Friday. The firm’s 50 day simple moving average is $46.57 and its 200-day simple moving average is $46.99. TC Energy has a 12 month low of $34.95 and a 12 month high of $50.37. The stock has a market capitalization of $47.88 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 4.34 and a beta of 0.74. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results 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 company 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 in the prior year, the firm posted $1.35 EPS. Analysts expect that TC Energy will post 2.63 EPS for the current year.

Institutional Trading of TC Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its position in shares of TC Energy by 248.6% during the 1st quarter. Versant Capital Management Inc now owns 2,475 shares of the pipeline company’s stock worth $117,000 after purchasing an additional 1,765 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in TC Energy by 21.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 56,590 shares of the pipeline company’s stock worth $2,672,000 after purchasing an additional 9,905 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of TC Energy by 23.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,066 shares of the pipeline company’s stock worth $980,000 after buying an additional 4,033 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of TC Energy in the fourth quarter valued at $10,436,000. Finally, Value Partners Investments Inc. purchased a new stake in shares of TC Energy in the 4th quarter valued at $245,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

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.