TC Energy (NYSE:TRP) Stock Rating Upgraded by Wall Street Zen

TC Energy (NYSE:TRP) (TSE:TRP) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other brokerages also recently commented on TRP. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a research note on Monday, December 22nd. Cibc World Mkts downgraded TC Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. TD Securities reaffirmed a “buy” rating on shares of TC Energy in a research report on Friday, October 17th. Barclays reissued an “overweight” rating on shares of TC Energy in a research report on Tuesday, October 14th. Finally, Scotiabank restated an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.00.

TC Energy Stock Up 0.0%

TC Energy stock opened at $55.83 on Friday. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.63 and a quick ratio of 0.56. The company’s 50-day moving average is $53.31 and its 200-day moving average is $51.39. The firm has a market capitalization of $58.10 billion, a PE ratio of 24.06 and a beta of 0.70. TC Energy has a fifty-two week low of $43.51 and a fifty-two week high of $56.08.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $2.63 billion. TC Energy had a net margin of 23.86% and a return on equity of 10.61%. During the same period last year, the business posted $1.03 EPS. Sell-side analysts anticipate that TC Energy will post 2.63 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TRP. Westside Investment Management Inc. raised its holdings in shares of TC Energy by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 594 shares of the pipeline company’s stock worth $32,000 after buying an additional 297 shares in the last quarter. Hilltop National Bank bought a new position in TC Energy in the second quarter valued at about $32,000. SWAN Capital LLC bought a new position in shares of TC Energy in the third quarter worth about $40,000. Smartleaf Asset Management LLC lifted its holdings in shares of TC Energy by 237.4% in the third quarter. Smartleaf Asset Management LLC now owns 803 shares of the pipeline company’s stock worth $43,000 after acquiring an additional 565 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of TC Energy by 65.3% in the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the pipeline company’s stock valued at $44,000 after purchasing an additional 318 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

About TC Energy

TC Energy (NYSE: TRP) is a North American energy infrastructure company headquartered in Calgary, Alberta. Formerly known as TransCanada, the company rebranded as TC Energy to reflect its broad presence across Canada, the United States and Mexico. TC Energy develops, owns and operates a diversified portfolio of energy infrastructure assets that play a central role in the transportation and delivery of energy across the continent.

The company’s principal businesses include long‑distance natural gas transmission, liquids (crude oil) pipelines, natural gas storage and power generation.