TC Energy (NYSE:TRP) Stock Rating Upgraded by StockNews.com

TC Energy (NYSE:TRP) (TSE:TRP) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Other research analysts have also recently issued reports about the stock. BMO Capital Markets boosted their target price 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. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Royal Bank of Canada upped their target price on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, TD Securities began coverage on TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $62.00.

TC Energy Stock Performance

Shares of TRP stock traded down $0.49 during mid-day trading on Wednesday, hitting $45.89. The stock had a trading volume of 1,677,430 shares, compared to its average volume of 2,121,049. 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 has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The company’s 50-day simple moving average is $46.56 and its 200-day simple moving average is $46.63. The firm has a market cap of $47.68 billion, a PE ratio of 14.16, a PEG ratio of 4.35 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 11.95%. During the same period last year, the firm posted $1.35 EPS. Sell-side analysts anticipate that TC Energy will post 2.64 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 added to or reduced their stakes in TRP. Norges Bank bought a new position in TC Energy during the fourth quarter worth about $428,759,000. Mufg Securities Canada LTD. lifted its holdings in shares of TC Energy by 571.7% during the 4th quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company’s stock valued at $288,043,000 after purchasing an additional 5,264,079 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of TC Energy by 156.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after purchasing an additional 4,126,801 shares in the last quarter. Blackstone Inc. lifted its holdings in shares of TC Energy by 83.8% during the 4th quarter. Blackstone Inc. now owns 7,637,469 shares of the pipeline company’s stock valued at $355,371,000 after purchasing an additional 3,482,874 shares in the last quarter. Finally, FIL Ltd raised its position in TC Energy by 10.3% in the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company’s stock valued at $1,325,558,000 after buying an additional 2,644,627 shares during the last quarter. Institutional investors own 83.13% of the company’s stock.

About TC Energy

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.