TC Energy (NYSE:TRP) Downgraded to “Equal Weight” Rating by Morgan Stanley

TC Energy (NYSE:TRP) (TSE:TRP) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Wednesday, MarketBeat reports.

Other analysts have also recently issued reports about the company. BMO Capital Markets reissued an “outperform” rating on shares of TC Energy in a research note on Monday, May 4th. TD Securities restated a “hold” rating on shares of TC Energy in a report on Monday, May 4th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TC Energy in a report on Tuesday, May 26th. Wells Fargo & Company restated an “overweight” rating on shares of TC Energy in a report on Monday, February 16th. Finally, Wall Street Zen upgraded shares of TC Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, TC Energy has an average rating of “Moderate Buy” and a consensus target price of $78.50.

TC Energy Trading Down 0.2%

NYSE:TRP opened at $68.14 on Wednesday. The company has a fifty day moving average of $65.29 and a 200 day moving average of $60.76. TC Energy has a 52 week low of $46.29 and a 52 week high of $71.47. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.67. The firm has a market capitalization of $68.14 billion, a P/E ratio of 29.58 and a beta of 0.66.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, May 1st. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.20 billion. TC Energy had a return on equity of 10.74% and a net margin of 22.22%.During the same period last year, the firm earned $0.95 earnings per share. On average, research analysts predict that TC Energy will post 2.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TRP. Vanguard Group Inc. increased its stake in shares of TC Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 47,801,695 shares of the pipeline company’s stock worth $2,632,200,000 after acquiring an additional 980,221 shares in the last quarter. Capital Research Global Investors increased its stake in shares of TC Energy by 2.5% in the 3rd quarter. Capital Research Global Investors now owns 41,977,582 shares of the pipeline company’s stock worth $2,282,469,000 after acquiring an additional 1,041,864 shares in the last quarter. FIL Ltd increased its stake in shares of TC Energy by 3.9% in the 4th quarter. FIL Ltd now owns 28,305,789 shares of the pipeline company’s stock worth $1,558,669,000 after acquiring an additional 1,052,166 shares in the last quarter. TD Asset Management Inc increased its stake in shares of TC Energy by 6.3% in the 4th quarter. TD Asset Management Inc now owns 20,868,772 shares of the pipeline company’s stock worth $1,150,656,000 after acquiring an additional 1,244,525 shares in the last quarter. Finally, GQG Partners LLC increased its stake in shares of TC Energy by 586.5% in the 4th quarter. GQG Partners LLC now owns 16,154,469 shares of the pipeline company’s stock worth $890,711,000 after acquiring an additional 13,801,371 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

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.