TC Energy (NYSE:TRP) Lowered to Hold Rating by US Capital Advisors

Key Points

• TC Energy has been downgraded from a "moderate buy" to a "hold" rating by US Capital Advisors, reflecting a more cautious outlook on the stock.
• The company's recent earnings report indicated a profit of $0.59 per share for the last quarter, surpassing estimates, but revenue fell short of expectations at $1.82 billion.
• Institutional investors control 83.13% of TC Energy's stock, with significant stake increases from firms like Public Sector Pension Investment Board and Corient Private Wealth LLC.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP was downgraded by analysts at US Capital Advisors from a "moderate buy" rating to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. Barclays reiterated an "overweight" rating on shares of TC Energy in a research report on Thursday, August 14th. Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. Finally, CIBC raised TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on 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 0.8%

TRP stock opened at $51.46 on Thursday. The firm has a market cap of $53.52 billion, a PE ratio of 17.56, a P/E/G ratio of 4.97 and a beta of 0.75. TC Energy has a 12 month low of $40.13 and a 12 month high of $52.10. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54. The firm has a 50 day simple moving average of $48.53 and a 200 day simple moving average of $48.25.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.03. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same period in the previous year, the firm posted $0.79 EPS. Equities research analysts forecast that TC Energy will post 2.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TC Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRP. Public Sector Pension Investment Board lifted its stake in shares of TC Energy by 2,573.3% in the second quarter. Public Sector Pension Investment Board now owns 2,680,572 shares of the pipeline company's stock worth $130,600,000 after buying an additional 2,580,300 shares during the last quarter. Evergreen Capital Management LLC grew its stake in TC Energy by 7.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 49,268 shares of the pipeline company's stock valued at $2,404,000 after buying an additional 3,550 shares during the last quarter. Corient Private Wealth LLC raised its holdings in TC Energy by 92.2% in the 2nd quarter. Corient Private Wealth LLC now owns 57,116 shares of the pipeline company's stock worth $2,786,000 after acquiring an additional 27,392 shares during the period. Ewing Morris & Co. Investment Partners Ltd. lifted its position in TC Energy by 0.6% during the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 37,962 shares of the pipeline company's stock worth $1,873,000 after acquiring an additional 234 shares during the last quarter. Finally, BROOKFIELD Corp ON acquired a new position in TC Energy during the 2nd quarter worth $78,443,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.