TC Energy (NYSE:TRP) Now Covered by StockNews.com

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

A number of other equities research analysts have also recently commented on TRP. The Goldman Sachs Group increased their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. 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. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Finally, Veritas raised shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Two investment 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’s stock. According to MarketBeat.com, TC Energy has a consensus rating of “Hold” and a consensus target price of $48.50.

TC Energy Price Performance

NYSE:TRP traded up $0.91 during trading hours on Monday, reaching $49.90. 1,542,227 shares of the company were exchanged, compared to its average volume of 3,076,571. 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 stock’s 50-day moving average is $46.93 and its 200-day moving average is $42.92. The firm has a market cap of $51.79 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 4.12 and a beta of 0.81. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.22.

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, beating analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, sell-side analysts anticipate that TC Energy will post 2.98 earnings per share for the current fiscal year.

Institutional Trading of TC Energy

Several hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its holdings in TC Energy by 1.3% in the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after acquiring an additional 242 shares in the last quarter. Signaturefd LLC raised its holdings in TC Energy by 1.6% during the second quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock worth $621,000 after purchasing an additional 261 shares in the last quarter. Prospera Financial Services Inc raised its holdings in TC Energy by 4.8% during the third quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock worth $274,000 after purchasing an additional 262 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in TC Energy by 8.1% during the third quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 264 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 267 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

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.