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

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

Several other research firms have also weighed in on TRP. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Veritas raised TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group upped their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Finally, Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.50.

TC Energy Stock Down 0.2 %

Shares of NYSE:TRP opened at $49.83 on Monday. TC Energy has a 52 week low of $31.83 and a 52 week high of $50.22. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The company has a market cap of $51.71 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. The firm has a 50 day simple moving average of $47.01 and a 200 day simple moving average of $43.01.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. As a group, research analysts expect that TC Energy will post 2.98 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. TD Private Client Wealth LLC grew its holdings in TC Energy by 2.6% during the third quarter. TD Private Client Wealth LLC now owns 65,595 shares of the pipeline company’s stock valued at $3,122,000 after purchasing an additional 1,676 shares during the last quarter. Geode Capital Management LLC grew its stake in TC Energy by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock valued at $225,890,000 after buying an additional 360,548 shares during the last quarter. Executive Wealth Management LLC acquired a new position in TC Energy in the 3rd quarter valued at $443,000. Duff & Phelps Investment Management Co. raised its holdings in TC Energy by 70.7% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock worth $83,874,000 after acquiring an additional 730,415 shares during the period. Finally, Barclays PLC boosted its holdings in TC Energy by 19.9% during the third quarter. Barclays PLC now owns 528,528 shares of the pipeline company’s stock valued at $25,132,000 after acquiring an additional 87,885 shares during the period. 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.