TC Energy (NYSE:TRP) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• TC Energy's stock rating was downgraded from "hold" to "sell" by Wall Street Zen, reflecting concerns among analysts about the company's performance.
• Despite the downgrade, the stock price of TC Energy rose by 1.6% to $55.16 on Friday, with a trading volume below its average.
• The company reported a net margin of 28.98% and earnings per share of $0.59, surpassing analysts' expectations but showing a revenue shortfall in its latest quarterly earnings.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Friday.

Other equities analysts have also recently issued reports about the stock. Barclays restated an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of TC Energy in a research note on Saturday, September 27th. Finally, US Capital Advisors lowered shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research report on Thursday, August 21st. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Stock Up 1.6%

Shares of TC Energy stock traded up $0.88 on Friday, hitting $55.16. 1,521,955 shares of the company traded hands, compared to its average volume of 2,136,418. The company has a 50-day moving average price of $51.37 and a 200 day moving average price of $49.61. 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 has a 12-month low of $43.51 and a 12-month high of $55.34. The company has a market cap of $57.38 billion, a PE ratio of 18.83, a PEG ratio of 5.21 and a beta of 0.75.

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 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same period in the previous year, the company posted $0.79 EPS. Sell-side analysts predict that TC Energy will post 2.63 earnings per share for the current year.

Institutional Trading of TC Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRP. Vanguard Group Inc. grew its stake in TC Energy by 3.4% during the second quarter. Vanguard Group Inc. now owns 45,907,306 shares of the pipeline company's stock worth $2,241,195,000 after buying an additional 1,509,328 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in TC Energy by 5.9% in the second quarter. Canada Pension Plan Investment Board now owns 20,986,748 shares of the pipeline company's stock valued at $1,025,220,000 after buying an additional 1,178,190 shares during the period. TD Asset Management Inc lifted its holdings in TC Energy by 9.3% in the second quarter. TD Asset Management Inc now owns 19,074,181 shares of the pipeline company's stock valued at $929,316,000 after buying an additional 1,618,441 shares during the period. Bank of Nova Scotia raised its holdings in TC Energy by 80.3% in the first quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company's stock worth $802,164,000 after purchasing an additional 7,562,887 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in TC Energy by 2,565.1% in the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company's stock worth $769,815,000 after purchasing an additional 15,694,336 shares during the period. Institutional investors own 83.13% of the company's stock.

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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