TC Energy (NYSE:TRP) Upgraded by Veritas to “Strong-Buy” Rating

TC Energy (NYSE:TRP) (TSE:TRP) was upgraded by equities researchers at Veritas from a “strong sell” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other research analysts have also issued reports on TRP. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. The Goldman Sachs Group lifted their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. TD Securities started coverage on TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, BMO Capital Markets raised their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, TC Energy has an average rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Stock Performance

TC Energy stock opened at $45.89 on Tuesday. TC Energy has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The stock has a market cap of $47.68 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 4.43 and a beta of 0.81. The stock’s 50 day simple moving average is $46.53 and its two-hundred day simple moving average is $46.62. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.54. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a return on equity of 11.95% and a net margin of 29.40%. During the same period in the prior year, the firm earned $1.35 earnings per share. As a group, analysts expect that TC Energy will post 2.62 earnings per share for the current fiscal year.

Institutional Trading of TC Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning boosted its position in shares of TC Energy by 4.1% during the third quarter. Creative Planning now owns 46,779 shares of the pipeline company’s stock valued at $2,224,000 after buying an additional 1,829 shares during the last quarter. Blue Trust Inc. raised its position in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after buying an additional 267 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in TC Energy by 26.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 9,651 shares of the pipeline company’s stock valued at $459,000 after acquiring an additional 1,993 shares during the period. Signaturefd LLC boosted its holdings in shares of TC Energy by 15.6% during the 3rd quarter. Signaturefd LLC now owns 18,929 shares of the pipeline company’s stock valued at $900,000 after acquiring an additional 2,556 shares during the last quarter. Finally, Eastern Bank bought a new stake in shares of TC Energy in the third quarter worth approximately $166,000. 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.