TC Energy (NYSE:TRP) Rating Lowered to Hold at Cibc World Mkts

Key Points

• TC Energy's rating has been downgraded from a "strong-buy" to a "hold" by Cibc World Mkts, amidst mixed reviews from other analysts.
• The company's recent earnings report showed an EPS of $0.59, outperforming estimates, but revenue of $1.82 billion fell short of expectations.
• TC Energy has a market capitalization of $54.83 billion, with institutional investors holding 83.13% of its stock.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP was downgraded by stock analysts at Cibc World Mkts from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other research firms have also recently issued reports on TRP. Weiss Ratings reissued a "buy (b-)" rating on shares of TC Energy in a report on Wednesday. Barclays reaffirmed an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. Wall Street Zen cut shares of TC Energy from a "hold" rating to a "sell" rating in a report on Friday, October 3rd. Finally, US Capital Advisors cut shares of TC Energy from a "moderate buy" rating to a "hold" rating in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Trading Down 2.8%

NYSE TRP opened at $52.70 on Thursday. The stock has a market capitalization of $54.83 billion, a P/E ratio of 17.99, a P/E/G ratio of 5.07 and a beta of 0.75. TC Energy has a 52-week low of $43.51 and a 52-week high of $55.37. The firm has a 50-day moving average price of $51.92 and a 200 day moving average price of $49.75. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54.

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 (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. The firm had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period in the prior year, the company posted $0.79 earnings per share. Equities research analysts expect that TC Energy will post 2.63 EPS for the current year.

Institutional Trading of TC Energy

Several large investors have recently modified their holdings of TRP. Pacifica Partners Inc. raised its stake in shares of TC Energy by 14.0% in the 3rd 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. Park Avenue Securities LLC raised its stake in shares of TC Energy by 2.3% in the 2nd quarter. Park Avenue Securities LLC now owns 9,947 shares of the pipeline company's stock valued at $485,000 after acquiring an additional 225 shares during the period. Gold Investment Management Ltd. raised its stake in shares of TC Energy by 2.5% in the 2nd quarter. Gold Investment Management Ltd. now owns 9,656 shares of the pipeline company's stock valued at $471,000 after acquiring an additional 232 shares during the period. Ewing Morris & Co. Investment Partners Ltd. raised its stake in shares of TC Energy by 0.6% in the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 37,962 shares of the pipeline company's stock valued at $1,873,000 after acquiring an additional 234 shares during the period. Finally, Baader Bank Aktiengesellschaft raised its stake in shares of TC Energy by 4.4% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 6,325 shares of the pipeline company's stock valued at $289,000 after acquiring an additional 264 shares during the period. 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.