TC Energy (NYSE:TRP) Now Covered by TD Securities

Stock analysts at TD Securities initiated coverage on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating on the pipeline company’s stock.

A number of other brokerages have also commented on TRP. BMO Capital Markets boosted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Veritas raised shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. Finally, Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $55.67.

TC Energy Stock Performance

TRP opened at $46.10 on Wednesday. The company has a market capitalization of $47.88 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 4.31 and a beta of 0.82. The business’s 50-day moving average price is $47.68 and its two-hundred day moving average price is $45.49. TC Energy has a 1 year low of $31.83 and a 1 year high of $50.37. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. Equities analysts expect that TC Energy will post 2.95 EPS for the current fiscal year.

Institutional Trading of TC Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Alliance increased its holdings in shares of TC Energy by 8.7% during the 2nd quarter. Wealth Alliance now owns 25,960 shares of the pipeline company’s stock worth $984,000 after acquiring an additional 2,069 shares during the last quarter. Seven Eight Capital LP bought a new position in TC Energy during the second quarter worth $1,420,000. XTX Topco Ltd increased its holdings in shares of TC Energy by 253.8% in the second quarter. XTX Topco Ltd now owns 48,608 shares of the pipeline company’s stock valued at $1,842,000 after purchasing an additional 34,870 shares during the last quarter. Intech Investment Management LLC raised its position in shares of TC Energy by 14.3% in the second quarter. Intech Investment Management LLC now owns 32,936 shares of the pipeline company’s stock valued at $1,248,000 after purchasing an additional 4,127 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of TC Energy by 4.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 15,708 shares of the pipeline company’s stock valued at $596,000 after purchasing an additional 703 shares during the period. Institutional investors own 83.13% of the company’s stock.

TC Energy Company Profile

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.