TC Energy (NYSE:TRP) Earns Hold Rating from Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a research note issued on Thursday. The firm set a “hold” rating on the pipeline company’s stock.

Separately, Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $43.50.

TC Energy Stock Performance

Shares of TRP opened at $46.02 on Thursday. The firm has a 50-day moving average price of $43.75 and a 200 day moving average price of $40.29. The firm has a market capitalization of $46.02 billion, a PE ratio of 23.72, a P/E/G ratio of 3.81 and a beta of 0.81. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. TC Energy has a 52-week low of $32.51 and a 52-week high of $47.38.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same quarter in the prior year, the firm posted $0.71 EPS. On average, sell-side analysts anticipate that TC Energy will post 3.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TRP. Murchinson Ltd. acquired a new position in shares of TC Energy in the first quarter worth about $506,485,000. Capital Research Global Investors raised its position in TC Energy by 23.7% during the fourth quarter. Capital Research Global Investors now owns 55,677,989 shares of the pipeline company’s stock valued at $2,174,931,000 after acquiring an additional 10,654,993 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in TC Energy by 107.1% in the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after acquiring an additional 10,065,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in TC Energy by 94.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock valued at $688,534,000 after acquiring an additional 8,339,800 shares during the last quarter. Finally, Capital International Investors lifted its stake in TC Energy by 11.8% in the fourth quarter. Capital International Investors now owns 55,161,245 shares of the pipeline company’s stock valued at $2,155,419,000 after acquiring an additional 5,822,056 shares during the last quarter. 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.