TC Energy (NYSE:TRP) Rating Lowered to “Hold” at National Bank Financial

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

Several other research firms have also weighed in on TRP. Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a research report on Monday, December 29th. Royal Bank Of Canada raised their target price on shares of TC Energy from $84.00 to $92.00 and gave the stock an “outperform” rating in a report on Tuesday. Scotiabank restated an “outperform” rating on shares of TC Energy in a research report on Tuesday. Citigroup reiterated a “neutral” rating on shares of TC Energy in a research report on Thursday, November 20th. Finally, Canadian Imperial Bank of Commerce lowered TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.00.

TC Energy Stock Down 2.1%

Shares of TRP stock opened at $62.23 on Tuesday. TC Energy has a 1 year low of $43.59 and a 1 year high of $63.94. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63. The business’s fifty day moving average is $56.49 and its 200-day moving average is $53.79. The stock has a market cap of $64.80 billion, a PE ratio of 26.78 and a beta of 0.73.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 13th. The pipeline company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations 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 earnings per share. Equities analysts expect that TC Energy will post 2.63 earnings per share for the current fiscal year.

Institutional Trading of TC Energy

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

TC Energy Company Profile

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.