TC Energy (NYSE:TRP) Stock Rating Upgraded by Cibc World Mkts

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP was upgraded by research analysts at Cibc World Mkts from a "hold" rating to a "strong-buy" rating in a research note issued on Friday,Zacks.com reports.

A number of other research analysts have also recently weighed in on the company. StockNews.com cut TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. TD Securities assumed coverage on TC Energy in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. Finally, Royal Bank of Canada upped their price objective on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, TC Energy presently has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Performance

Shares of TC Energy stock opened at $50.95 on Friday. The stock has a market cap of $52.97 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 4.34 and a beta of 0.74. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. TC Energy has a 1 year low of $37.05 and a 1 year high of $51.25. The firm's 50-day moving average is $47.57 and its 200 day moving average is $47.30.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the company earned $1.02 earnings per share. Sell-side analysts anticipate that TC Energy will post 2.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in TC Energy by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company's stock worth $2,035,952,000 after purchasing an additional 734,678 shares during the last quarter. FIL Ltd raised its holdings in TC Energy by 10.3% in the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock valued at $1,325,558,000 after acquiring an additional 2,644,627 shares during the last quarter. TD Asset Management Inc. lifted its stake in TC Energy by 2.1% in the 4th quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company's stock worth $765,627,000 after purchasing an additional 344,485 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of TC Energy by 9.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 14,755,330 shares of the pipeline company's stock worth $686,763,000 after purchasing an additional 1,280,000 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of TC Energy in the fourth quarter valued at approximately $428,759,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

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.

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