TC Energy (NYSE:TRP) Rating Increased to Hold at Raymond James Financial

TC Energy (NYSE:TRP) (TSE:TRP) was upgraded by investment analysts at Raymond James Financial to a “hold” rating in a report released on Tuesday,Zacks.com reports.

TRP has been the subject of a number of other research reports. Canadian Imperial Bank of Commerce lowered TC Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. National Bank Financial lowered shares of TC Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Company reaffirmed an “overweight” rating on shares of TC Energy in a research note on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a research report on Monday, December 29th. Finally, Royal Bank Of Canada raised their price objective on shares of TC Energy from $84.00 to $92.00 and gave the stock an “outperform” rating in a report on Tuesday. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $92.00.

TC Energy Stock Down 2.1%

NYSE TRP 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 stock has a market capitalization of $64.80 billion, a PE ratio of 26.78 and a beta of 0.73. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.63 and a quick ratio of 0.56. The business’s 50-day moving average is $56.49 and its 200 day moving average is $53.79.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates 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 in the prior year, the company posted $1.05 EPS. Sell-side analysts forecast that TC Energy will post 2.63 earnings per share for the current year.

Hedge Funds Weigh In On TC Energy

A number of institutional investors and hedge funds have recently made changes to their positions in TRP. Pacifica Partners Inc. lifted its holdings in shares of TC Energy by 14.0% during the third quarter. Pacifica Partners Inc. now owns 1,625 shares of the pipeline company’s stock valued at $87,000 after purchasing an additional 200 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its position in TC Energy by 2.0% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock valued at $544,000 after buying an additional 200 shares in the last quarter. Gold Investment Management Ltd. increased its position in TC Energy by 2.0% during the 4th quarter. Gold Investment Management Ltd. now owns 9,964 shares of the pipeline company’s stock valued at $549,000 after buying an additional 200 shares in the last quarter. Kingswood Wealth Advisors LLC raised its stake in TC Energy by 2.8% during the third quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock valued at $399,000 after buying an additional 202 shares during the last quarter. Finally, Kennebec Savings Bank boosted its holdings in TC Energy by 2.1% in the fourth quarter. Kennebec Savings Bank now owns 9,854 shares of the pipeline company’s stock worth $542,000 after acquiring an additional 203 shares in the last quarter. Institutional investors 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.