UBS Group Upgrades TC Energy (NYSE:TRP) to Buy

TC Energy (NYSE:TRP) (TSE:TRP) was upgraded by stock analysts at UBS Group from a “neutral” rating to a “buy” rating in a report released on Monday, StockNewsAPI reports.

TRP has been the topic of a number of other research reports. StockNews.com began coverage on shares of TC Energy in a report on Friday. They set a “hold” rating on the stock. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $43.50.

TC Energy Stock Performance

NYSE:TRP traded up $0.53 during trading hours on Monday, hitting $47.29. 778,809 shares of the company traded hands, compared to its average volume of 2,936,042. TC Energy has a twelve month low of $32.51 and a twelve month high of $48.14. The stock has a market capitalization of $47.29 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 3.82 and a beta of 0.81. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. The firm has a 50-day moving average of $44.74 and a 200 day moving average of $40.61.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.29. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. On average, analysts forecast that TC Energy will post 3.08 EPS for the current year.

Institutional Trading of TC Energy

A number of hedge funds have recently modified their holdings of the company. EdgeRock Capital LLC acquired a new stake in TC Energy during the 2nd quarter worth approximately $25,000. Creekmur Asset Management LLC acquired a new stake in TC Energy during the 4th quarter worth approximately $27,000. Whittier Trust Co. of Nevada Inc. raised its holdings in TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after buying an additional 429 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in TC Energy during the 4th quarter worth approximately $31,000. Finally, Mather Group LLC. acquired a new stake in TC Energy during the 2nd quarter worth approximately $33,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

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.