TC Energy (NYSE:TRP) Earns Buy Rating from Analysts at TD Securities

Equities research analysts at TD Securities assumed coverage on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a report released on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating on the pipeline company’s stock.

Several other analysts have also recently commented on TRP. The Goldman Sachs Group upped their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. StockNews.com initiated coverage on TC Energy in a research note on Wednesday, December 4th. They issued a “hold” rating for the company. Finally, BMO Capital Markets lifted their price objective on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, TC Energy has an average rating of “Hold” and a consensus price target of $55.67.

TC Energy Stock Performance

NYSE TRP opened at $46.33 on Wednesday. TC Energy has a twelve month low of $31.83 and a twelve month high of $50.37. The stock has a market cap of $48.13 billion, a P/E ratio of 12.83, a PEG ratio of 3.88 and a beta of 0.82. The company’s 50-day simple moving average is $47.71 and its 200 day simple moving average is $45.48. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. As a group, research analysts forecast that TC Energy will post 3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TC Energy

Several institutional investors have recently added to or reduced their stakes in TRP. Canada Pension Plan Investment Board raised its stake in shares of TC Energy by 107.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after purchasing an additional 10,065,000 shares during the period. Legal & General Group Plc grew its holdings in shares of TC Energy by 4.1% during the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock worth $450,749,000 after buying an additional 467,497 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in TC Energy by 156.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after buying an additional 4,126,801 shares during the last quarter. Geode Capital Management LLC lifted its stake in TC Energy by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock valued at $225,890,000 after acquiring an additional 360,548 shares in the last quarter. Finally, Merewether Investment Management LP boosted its position in TC Energy by 37.9% during the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock worth $194,776,000 after acquiring an additional 1,127,000 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

TC Energy Company Profile

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.