TC Energy (NYSE:TRP) Raised to "Hold" at Wall Street Zen

Key Points

• TC Energy has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, reflecting a shift in analysts' perspectives on the stock.
• The company's stock has a consensus rating of "Moderate Buy" with an average price target of $62.00, indicating positive outlook among several analysts.
• In its latest earnings report, TC Energy surpassed analysts' expectations with earnings of $0.59 per share, despite a decrease in revenue compared to the previous year.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

A number of other research analysts also recently weighed in on the company. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a research note on Thursday, August 14th. US Capital Advisors downgraded TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Stock Up 0.4%

TRP stock opened at $52.31 on Friday. The stock's 50 day simple moving average is $49.68 and its 200 day simple moving average is $48.85. TC Energy has a fifty-two week low of $40.76 and a fifty-two week high of $52.49. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. The company has a market cap of $54.39 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 4.99 and a beta of 0.77.

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

Hedge Funds Weigh In On TC Energy

Institutional investors have recently modified their holdings of the business. Lowe Wealth Advisors LLC bought a new position in shares of TC Energy in the first quarter valued at approximately $30,000. Hilltop National Bank bought a new position in shares of TC Energy in the second quarter valued at approximately $32,000. Harbor Asset Planning Inc. bought a new position in shares of TC Energy in the second quarter valued at approximately $43,000. TruNorth Capital Management LLC bought a new position in shares of TC Energy in the first quarter valued at approximately $45,000. Finally, Truvestments Capital LLC bought a new position in shares of TC Energy in the first quarter valued at approximately $45,000. 83.13% of the stock is owned by institutional investors.

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.

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