TC Energy (NYSE:TRP) Cut to Hold at National Bank Financial

TC Energy (NYSE:TRP) (TSE:TRP) was downgraded by National Bank Financial from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Morgan Stanley restated an “overweight” rating on shares of TC Energy in a research note on Wednesday, January 28th. BMO Capital Markets restated an “outperform” rating on shares of TC Energy in a research report on Tuesday. Wall Street Zen raised shares of TC Energy from a “sell” rating to a “hold” rating in a report on Saturday. Canadian Imperial Bank of Commerce lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, TD Securities downgraded 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 issued a Hold rating to the stock. According to data from MarketBeat.com, TC Energy currently has an average rating of “Moderate Buy” and an average target price of $92.00.

TC Energy Stock Performance

Shares of TRP stock opened at $62.23 on Tuesday. The stock has a market capitalization of $64.80 billion, a price-to-earnings ratio of 26.78 and a beta of 0.73. TC Energy has a one year low of $43.59 and a one year high of $63.94. The company’s 50-day simple moving average is $56.49 and its 200-day simple moving average is $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.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TRP. Campbell & CO Investment Adviser LLC bought a new stake in shares of TC Energy during the third quarter valued at about $1,391,000. Norges Bank acquired a new position in TC Energy during the 2nd quarter valued at about $493,434,000. Advisors Asset Management Inc. raised its position in shares of TC Energy by 38.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 88,140 shares of the pipeline company’s stock worth $4,796,000 after buying an additional 24,617 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of TC Energy by 9.2% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,365,500 shares of the pipeline company’s stock worth $74,297,000 after buying an additional 115,000 shares in the last quarter. Finally, Ausbil Investment Management Ltd lifted its stake in shares of TC Energy by 33.2% in the 3rd quarter. Ausbil Investment Management Ltd now owns 100,519 shares of the pipeline company’s stock worth $5,415,000 after acquiring an additional 25,026 shares during the period. Institutional investors and hedge funds own 83.13% of the company’s stock.

About TC Energy

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.