TC Energy (NYSE:TRP) Rating Increased to Buy at UBS Group

TC Energy (NYSE:TRP) (TSE:TRP) was upgraded by investment analysts at UBS Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, StockNewsAPI reports.

A number of other research firms have also recently commented on TRP. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. StockNews.com started coverage on TC Energy in a report on Friday. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $43.50.

TC Energy Stock Up 1.1 %

Shares of NYSE:TRP traded up $0.53 during midday trading on Monday, hitting $47.29. The stock had a trading volume of 778,809 shares, compared to its average volume of 2,936,042. TC Energy has a 12 month low of $32.51 and a 12 month high of $48.14. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. The business’s 50-day simple moving average is $44.74 and its 200-day simple moving average is $40.61. The company has a market cap of $47.29 billion, a P/E ratio of 24.42, a PEG ratio of 3.82 and a beta of 0.81.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TRP. Signaturefd LLC grew its position in TC Energy by 1.6% in the 2nd quarter. Signaturefd LLC now owns 16,373 shares of the pipeline company’s stock valued at $621,000 after purchasing an additional 261 shares during the period. New Hampshire Trust grew its position in TC Energy by 3.8% in the 1st quarter. New Hampshire Trust now owns 7,263 shares of the pipeline company’s stock valued at $292,000 after purchasing an additional 269 shares during the period. Windsor Advisory Group LLC grew its position in TC Energy by 2.5% in the 1st quarter. Windsor Advisory Group LLC now owns 12,831 shares of the pipeline company’s stock valued at $516,000 after purchasing an additional 316 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in TC Energy by 2.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 15,005 shares of the pipeline company’s stock valued at $604,000 after purchasing an additional 332 shares during the period. Finally, Mount Yale Investment Advisors LLC grew its position in TC Energy by 1.9% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 19,873 shares of the pipeline company’s stock valued at $799,000 after purchasing an additional 364 shares during the period. 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.