TC Energy (NYSE:TRP) Now Covered by StockNews.com

Research analysts at StockNews.com started coverage on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a research report issued on Wednesday. The brokerage set a “hold” rating on the pipeline company’s stock.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. raised shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets boosted their price target on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. The Goldman Sachs Group boosted their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. Finally, UBS Group raised shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $55.67.

TC Energy Stock Performance

Shares of TRP stock opened at $48.65 on Wednesday. The firm has a market cap of $50.50 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 4.05 and a beta of 0.82. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. TC Energy has a 52 week low of $31.83 and a 52 week high of $50.37. The firm’s 50-day simple moving average is $47.55 and its two-hundred day simple moving average is $43.75.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. As a group, equities analysts forecast that TC Energy will post 3 earnings per share for the current year.

Hedge Funds Weigh In On TC Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Centerstone Investors LLC grew its stake in TC Energy by 3.4% in the 3rd quarter. Centerstone Investors LLC now owns 328,440 shares of the pipeline company’s stock worth $14,550,000 after buying an additional 10,890 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in TC Energy in the 3rd quarter worth approximately $186,000. TD Private Client Wealth LLC grew its stake in TC Energy by 2.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 65,595 shares of the pipeline company’s stock worth $3,122,000 after buying an additional 1,676 shares in the last quarter. Geode Capital Management LLC grew its stake in TC Energy by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock worth $225,890,000 after buying an additional 360,548 shares in the last quarter. Finally, Executive Wealth Management LLC purchased a new position in TC Energy in the 3rd quarter worth approximately $443,000. Hedge funds and other 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.