TC Energy Corporation (NYSE:TRP) Given Average Rating of “Buy” by Brokerages

TC Energy Corporation (NYSE:TRP) (TSE:TRP) has been given a consensus rating of “Buy” by the eleven brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $84.00.

TRP has been the topic of a number of analyst reports. Canadian Imperial Bank of Commerce upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Royal Bank Of Canada boosted their price objective on TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Wall Street Zen downgraded TC Energy from a “hold” rating to a “sell” rating in a research note on Sunday, January 4th. Finally, Citigroup reissued a “neutral” rating on shares of TC Energy in a report on Thursday, November 20th.

Hedge Funds Weigh In On TC Energy

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in TC Energy in the 4th quarter valued at $583,732,000. Deutsche Bank AG increased its holdings in shares of TC Energy by 63.2% in the fourth quarter. Deutsche Bank AG now owns 15,384,255 shares of the pipeline company’s stock worth $846,288,000 after purchasing an additional 5,956,263 shares during the last quarter. American Century Companies Inc. lifted its position in shares of TC Energy by 514.5% in the third quarter. American Century Companies Inc. now owns 6,491,799 shares of the pipeline company’s stock worth $352,976,000 after buying an additional 5,435,310 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of TC Energy by 2,573.3% in the second quarter. Public Sector Pension Investment Board now owns 2,680,572 shares of the pipeline company’s stock worth $130,600,000 after buying an additional 2,580,300 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in TC Energy during the second quarter valued at approximately $104,628,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Up 1.9%

TC Energy stock opened at $60.88 on Thursday. TC Energy has a 12-month low of $43.59 and a 12-month high of $61.15. The firm has a market capitalization of $63.37 billion, a price-to-earnings ratio of 26.24 and a beta of 0.73. The firm has a 50 day moving average of $55.84 and a 200 day moving average of $53.32. The company has a current ratio of 0.63, a quick ratio of 0.56 and a debt-to-equity ratio of 1.60.

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.