Veritas Upgrades TC Energy (NYSE:TRP) to Strong-Buy

TC Energy (NYSE:TRP) (TSE:TRP) was upgraded by stock analysts at Veritas from a “strong sell” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other analysts also recently commented on the company. BMO Capital Markets upped their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. TD Securities began coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group boosted their price target on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Finally, StockNews.com raised TC Energy from a “hold” rating to a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Stock Down 1.1 %

Shares of NYSE TRP opened at $45.89 on Tuesday. The business has a 50-day moving average price of $46.53 and a 200 day moving average price of $46.62. The stock has a market cap of $47.68 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 4.43 and a beta of 0.81. 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 has a 52-week low of $31.83 and a 52-week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 11.95%. The business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the previous year, the company posted $1.35 EPS. Equities research analysts forecast that TC Energy will post 2.62 earnings per share for the current year.

Hedge Funds Weigh In On TC Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in shares of TC Energy during the 3rd quarter worth $28,000. Blue Trust Inc. grew its holdings in TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after buying an additional 267 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in TC Energy during the fourth quarter worth $31,000. Versant Capital Management Inc acquired a new position in shares of TC Energy in the fourth quarter worth $33,000. Finally, Synergy Investment Management LLC purchased a new stake in shares of TC Energy in the fourth quarter valued at $36,000. 83.13% of the stock is owned by institutional investors and hedge funds.

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.