TC Energy (NYSE:TRP) Downgraded to Hold Rating by TD Securities

TC Energy (NYSE:TRP) (TSE:TRP) was downgraded by analysts at TD Securities from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

A number of other brokerages also recently weighed in on TRP. BMO Capital Markets raised TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, November 7th. Scotiabank reaffirmed an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Citigroup reiterated a “neutral” rating on shares of TC Energy in a report on Thursday, November 20th. Royal Bank Of Canada increased their price objective on shares of TC Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Finally, Wall Street Zen upgraded shares of TC Energy from a “sell” rating to a “hold” rating in a report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.00.

TC Energy Stock Up 3.4%

Shares of NYSE:TRP opened at $63.52 on Tuesday. TC Energy has a one year low of $43.59 and a one year high of $63.94. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.63 and a quick ratio of 0.56. The stock has a market cap of $66.13 billion, a price-to-earnings ratio of 27.33 and a beta of 0.73. The company has a 50 day moving average of $56.33 and a 200-day moving average of $53.69.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.94 billion. TC Energy had a net margin of 23.04% and a return on equity of 10.47%. During the same period in the previous year, the firm posted $1.05 EPS. On average, sell-side analysts forecast that TC Energy will post 2.63 earnings per share for the current year.

Institutional Investors Weigh In On TC Energy

Hedge funds have recently added to or reduced their stakes in the stock. Pacifica Partners Inc. increased its position in shares of TC Energy by 14.0% during the third quarter. Pacifica Partners Inc. now owns 1,625 shares of the pipeline company’s stock valued at $87,000 after acquiring an additional 200 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its position in shares of TC Energy by 2.0% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock valued at $544,000 after purchasing an additional 200 shares during the last quarter. Gold Investment Management Ltd. raised its position in TC Energy by 2.0% in the fourth quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock worth $549,000 after acquiring an additional 200 shares during the period. Kingswood Wealth Advisors LLC grew its holdings in TC Energy by 2.8% during the third quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock valued at $399,000 after purchasing an additional 202 shares during the period. Finally, Kennebec Savings Bank grew its stake in shares of TC Energy by 2.1% during the 4th quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock valued at $542,000 after acquiring an additional 203 shares during the period. 83.13% of the stock is 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.