TC Energy (NYSE:TRP) Cut to Hold at TD Securities

TC Energy (NYSE:TRP) (TSE:TRP) was downgraded by TD Securities from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company reissued an “overweight” rating on shares of TC Energy in a research report on Monday. Canadian Imperial Bank of Commerce raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Citigroup restated a “neutral” rating on shares of TC Energy in a research note on Thursday, November 20th. Morgan Stanley restated an “overweight” rating on shares of TC Energy in a research report on Wednesday, January 28th. Finally, Scotiabank reissued an “outperform” rating on shares of TC Energy in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, TC Energy has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

TC Energy Stock Performance

NYSE:TRP opened at $63.52 on Tuesday. The company has a fifty day moving average of $56.33 and a two-hundred day moving average of $53.69. TC Energy has a fifty-two week low of $43.59 and a fifty-two week high of $63.94. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.56 and a current ratio of 0.63. The stock has a market capitalization of $66.13 billion, a PE ratio of 27.33 and a beta of 0.73.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations 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 last year, the firm earned $1.05 earnings per share. As a group, research analysts forecast that TC Energy will post 2.63 earnings per share for the current fiscal year.

Institutional Trading of TC Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacifica Partners Inc. raised 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 acquiring an additional 200 shares during the period. Mesirow Financial Investment Management Inc. lifted its holdings in TC Energy by 2.0% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 9,991 shares of the pipeline company’s stock worth $544,000 after purchasing an additional 200 shares during the last quarter. Gold Investment Management Ltd. lifted 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 worth $549,000 after acquiring an additional 200 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its stake in TC Energy by 2.8% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 7,342 shares of the pipeline company’s stock valued at $399,000 after purchasing an additional 202 shares during the period. Finally, Kennebec Savings Bank grew its stake in shares of 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 during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

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.