TC Energy (NYSE:TRP) Raised to Hold at Raymond James Financial

TC Energy (NYSE:TRP) (TSE:TRP) was upgraded by analysts at Raymond James Financial to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Wall Street Zen upgraded shares of TC Energy from a “sell” rating to a “hold” rating in a research report on Saturday. Morgan Stanley restated an “overweight” rating on shares of TC Energy in a research report on Wednesday, January 28th. BMO Capital Markets reiterated an “outperform” rating on shares of TC Energy in a research report on Tuesday. Citigroup reissued a “neutral” rating on shares of TC Energy in a research note on Thursday, November 20th. Finally, TD Securities lowered TC Energy from a “buy” rating to a “hold” rating in a research note on Tuesday. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

TC Energy Price Performance

NYSE:TRP opened at $62.23 on Tuesday. TC Energy has a 52-week low of $43.59 and a 52-week high of $63.94. The stock has a fifty day moving average of $56.49 and a 200 day moving average of $53.79. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63. The firm has a market capitalization of $64.80 billion, a price-to-earnings ratio of 26.78 and a beta of 0.73.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. TC Energy had a return on equity of 10.47% and a net margin of 23.04%.The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the firm posted $1.05 EPS. On average, research analysts expect that TC Energy will post 2.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TRP. Vanguard Group Inc. boosted its holdings in TC Energy by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock valued at $2,632,200,000 after acquiring an additional 980,221 shares during the period. Capital Research Global Investors increased its stake in TC Energy by 2.5% in the 3rd quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock worth $2,282,469,000 after purchasing an additional 1,041,864 shares during the period. FIL Ltd lifted its position in TC Energy by 3.9% in the fourth quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock valued at $1,558,669,000 after purchasing an additional 1,052,166 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in TC Energy by 5.9% in the second quarter. Canada Pension Plan Investment Board now owns 20,986,748 shares of the pipeline company’s stock valued at $1,025,220,000 after purchasing an additional 1,178,190 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of TC Energy by 6.3% during the fourth quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock valued at $1,150,656,000 after purchasing an additional 1,244,525 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Company Profile

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.