TC Energy (TSE:TRP) Cut to “Hold” at TD Securities

TC Energy (TSE:TRP) (NYSE:TRP) was downgraded by investment analysts at TD Securities from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. They presently have a C$88.00 price objective on the stock, up from their prior price objective of C$84.00. TD Securities’ price objective indicates a potential upside of 3.69% from the stock’s current price.

Several other brokerages also recently issued reports on TRP. Canadian Imperial Bank of Commerce downgraded TC Energy from an “outperform” rating to a “neutral” rating and lifted their target price for the company from C$81.00 to C$85.00 in a research note on Tuesday. Scotiabank raised their target price on shares of TC Energy from C$81.00 to C$86.00 in a report on Friday, January 16th. BMO Capital Markets raised shares of TC Energy from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from C$73.00 to C$83.00 in a research report on Friday, November 7th. Raymond James Financial upped their price objective on shares of TC Energy from C$71.00 to C$74.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, National Bank Financial upped their price objective on shares of TC Energy from C$85.00 to C$86.00 and gave the stock a “sector perform” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$84.00.

TC Energy Stock Down 1.9%

Shares of TSE:TRP traded down C$1.65 during trading on Tuesday, hitting C$84.87. The stock had a trading volume of 2,107,940 shares, compared to its average volume of 4,875,110. The firm’s fifty day moving average is C$77.33 and its 200 day moving average is C$74.36. The company has a market capitalization of C$88.35 billion, a PE ratio of 25.95, a PEG ratio of 1.69 and a beta of 0.86. The company has a quick ratio of 0.40, a current ratio of 1.31 and a debt-to-equity ratio of 237.62. TC Energy has a 12 month low of C$62.17 and a 12 month high of C$86.97.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Friday, February 13th. The company reported C$0.98 earnings per share (EPS) for the quarter. TC Energy had a net margin of 32.39% and a return on equity of 17.25%. The company had revenue of C$4.17 billion for the quarter. Analysts anticipate that TC Energy will post 3.5490515 EPS for the current fiscal year.

About TC Energy

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.