TC Energy Co. (NYSE:TRP) Receives Consensus Recommendation of “Hold” from Brokerages

TC Energy Co. (NYSE:TRP) (TSE:TRP) has been given a consensus rating of “Hold” by the nine research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $56.00.

TRP has been the topic of a number of research analyst reports. BMO Capital Markets boosted their price target on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. StockNews.com started coverage on shares of TC Energy in a research report on Wednesday, December 4th. They set a “hold” rating for the company. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a report on Monday, October 14th. Finally, US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday.

TC Energy Stock Down 0.3 %

Shares of TRP stock opened at $46.98 on Friday. The company has a market capitalization of $48.81 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 4.31 and a beta of 0.81. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The company’s fifty day moving average price is $46.85 and its 200-day moving average price is $46.29. TC Energy has a one year low of $31.83 and a one year high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $2.83 billion. Sell-side analysts expect that TC Energy will post 2.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. raised its position in TC Energy by 156.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after purchasing an additional 4,126,801 shares during the period. Raymond James Financial Inc. bought a new position in shares of TC Energy during the fourth quarter valued at approximately $75,464,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of TC Energy in the third quarter worth approximately $73,162,000. Merewether Investment Management LP lifted its stake in shares of TC Energy by 37.9% during the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock worth $194,776,000 after acquiring an additional 1,127,000 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its holdings in TC Energy by 70.7% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company’s stock valued at $83,874,000 after acquiring an additional 730,415 shares during the period. 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.