TC Energy Corporation (NYSE:TRP) Receives Consensus Rating of “Buy” from Analysts

Shares of TC Energy Corporation (NYSE:TRP) (TSE:TRP) have received a consensus rating of “Buy” from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $84.00.

A number of analysts have recently weighed in on TRP shares. BMO Capital Markets upgraded shares of TC Energy from a “market perform” rating to an “outperform” rating in a report on Friday, November 7th. TD Securities reissued a “buy” rating on shares of TC Energy in a research note on Friday, October 17th. Royal Bank Of Canada upped their price objective on TC Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Scotiabank reiterated an “outperform” rating on shares of TC Energy in a report on Monday, October 20th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of TC Energy in a report on Monday, December 29th.

Institutional Investors Weigh In On TC Energy

Institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in TC Energy by 54.0% during the 1st quarter. AQR Capital Management LLC now owns 11,099 shares of the pipeline company’s stock valued at $538,000 after purchasing an additional 3,892 shares during the last quarter. Focus Partners Wealth boosted its position in shares of TC Energy by 46.1% during the first quarter. Focus Partners Wealth now owns 12,446 shares of the pipeline company’s stock valued at $588,000 after buying an additional 3,929 shares during the period. Intech Investment Management LLC grew its stake in shares of TC Energy by 200.7% during the first quarter. Intech Investment Management LLC now owns 26,878 shares of the pipeline company’s stock valued at $1,269,000 after buying an additional 17,939 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of TC Energy by 6.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,584 shares of the pipeline company’s stock worth $712,000 after buying an additional 873 shares during the period. Finally, Yousif Capital Management LLC raised its holdings in shares of TC Energy by 8.1% in the second quarter. Yousif Capital Management LLC now owns 14,498 shares of the pipeline company’s stock worth $707,000 after buying an additional 1,090 shares during the period. Institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 1.9%

Shares of TRP opened at $60.88 on Thursday. The company’s fifty day moving average is $55.84 and its 200 day moving average is $53.32. TC Energy has a fifty-two week low of $43.59 and a fifty-two week high of $61.15. The stock has a market capitalization of $63.37 billion, a PE ratio of 26.24 and a beta of 0.73. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63.

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.