TC Energy (NYSE:TRP) Rating Lowered to Hold at Cibc World Mkts

TC Energy (NYSE:TRP) (TSE:TRP) was downgraded by equities researchers at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the stock. Barclays reaffirmed an “overweight” rating on shares of TC Energy in a research note on Thursday, August 14th. Wall Street Zen lowered shares of TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. US Capital Advisors lowered shares of TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of TC Energy in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, TC Energy presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Stock Performance

TC Energy stock opened at $52.70 on Thursday. TC Energy has a 12-month low of $43.51 and a 12-month high of $55.37. The company has a market capitalization of $54.83 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 5.07 and a beta of 0.75. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The firm’s fifty day moving average price is $51.92 and its 200 day moving average price is $49.75.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the firm posted $0.79 EPS. On average, research analysts forecast that TC Energy will post 2.63 EPS for the current fiscal year.

Institutional Investors Weigh In On TC Energy

Large investors have recently made changes to their positions in the company. Hilltop National Bank purchased a new stake in shares of TC Energy in the 2nd quarter valued at approximately $32,000. Harbor Asset Planning Inc. purchased a new stake in shares of TC Energy in the 2nd quarter valued at approximately $43,000. TruNorth Capital Management LLC purchased a new stake in shares of TC Energy in the 1st quarter valued at approximately $45,000. Truvestments Capital LLC purchased a new stake in shares of TC Energy in the 1st quarter valued at approximately $45,000. Finally, Sagard Holdings Management Inc. purchased a new stake in shares of TC Energy in the 2nd quarter valued at approximately $46,000. 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.