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

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

Other research analysts have also issued research reports about the company. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TC Energy presently has an average rating of “Hold” and an average target price of $43.50.

TC Energy Trading Up 1.7 %

TC Energy stock opened at $45.11 on Friday. The firm’s fifty day moving average price is $45.17 and its 200-day moving average price is $40.80. The stock has a market cap of $46.81 billion, a P/E ratio of 23.25, a PEG ratio of 3.57 and a beta of 0.81. TC Energy has a fifty-two week low of $32.56 and a fifty-two week high of $48.42. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same quarter in the previous year, the company posted $0.71 EPS. Equities research analysts forecast that TC Energy will post 3.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TC Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. EdgeRock Capital LLC purchased a new stake in TC Energy in the 2nd quarter worth $25,000. Creekmur Asset Management LLC acquired a new stake in shares of TC Energy during the fourth quarter worth about $27,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after buying an additional 429 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in shares of TC Energy during the fourth quarter worth $31,000. Finally, Mather Group LLC. acquired a new stake in TC Energy in the 2nd quarter valued at about $33,000. 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.