TC Energy (NYSE:TRP) Now Covered by StockNews.com

Analysts at StockNews.com assumed coverage on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the pipeline company’s stock.

TRP has been the topic of several other reports. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. The Goldman Sachs Group boosted their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Monday, October 21st. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Finally, UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.50.

TC Energy Stock Performance

Shares of TC Energy stock traded up $0.91 during trading on Monday, reaching $49.90. The company’s stock had a trading volume of 1,542,227 shares, compared to its average volume of 3,076,571. The company has a 50-day moving average price of $46.93 and a two-hundred day moving average price of $42.92. The firm has a market cap of $51.79 billion, a PE ratio of 13.82, a P/E/G ratio of 4.12 and a beta of 0.81. TC Energy has a fifty-two week low of $31.83 and a fifty-two week high of $50.22. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. On average, analysts forecast that TC Energy will post 2.98 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in shares of TC Energy during the 3rd quarter valued at about $28,000. Blue Trust Inc. increased its stake in shares of TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares during the last quarter. EdgeRock Capital LLC acquired a new position in shares of TC Energy during the 2nd quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. increased its stake in shares of TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 429 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of TC Energy during the 3rd quarter valued at about $39,000. Institutional investors and hedge funds 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.