Weiss Ratings Reiterates Buy (B-) Rating for TC Energy (NYSE:TRP)

Key Points

• Weiss Ratings has reaffirmed a "buy (B-)" rating for TC Energy, indicating positive analyst sentiment towards the company's stock.
• TC Energy's stock closed at $54.24, showing a slight decrease; it also boasts an impressive market cap of $56.42 billion and a P/E ratio of 18.51.
• Despite a recent earnings report that beat expectations, TC Energy's quarterly revenue was below forecasts, suggesting potential challenges in meeting analyst projections.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP's stock had its "buy (b-)" rating reaffirmed by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also commented on the stock. Barclays restated an "overweight" rating on shares of TC Energy in a report on Thursday, August 14th. Wall Street Zen lowered shares of TC Energy from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. Finally, US Capital Advisors lowered shares of TC Energy from a "moderate buy" rating to a "hold" rating in a research note on Thursday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Trading Down 0.8%

TC Energy stock traded down $0.41 during trading hours on Wednesday, hitting $54.24. The company had a trading volume of 2,207,828 shares, compared to its average volume of 2,257,569. The firm has a market cap of $56.42 billion, a P/E ratio of 18.51, a P/E/G ratio of 5.22 and a beta of 0.75. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. TC Energy has a 1 year low of $43.51 and a 1 year high of $55.37. The company has a 50-day moving average price of $51.68 and a two-hundred day moving average price of $49.70.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (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 company had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $2.56 billion. During the same period in the previous year, the company earned $0.79 EPS. On average, sell-side analysts anticipate that TC Energy will post 2.63 earnings per share for the current year.

Institutional Investors Weigh In On TC Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hilltop National Bank acquired a new stake in shares of TC Energy during the second quarter valued at about $32,000. Harbor Asset Planning Inc. purchased a new stake in shares of TC Energy during the 2nd quarter worth approximately $43,000. TruNorth Capital Management LLC acquired a new position in shares of TC Energy in the 1st quarter valued at $45,000. Truvestments Capital LLC acquired a new position in shares of TC Energy in the 1st quarter valued at $45,000. Finally, Sagard Holdings Management Inc. acquired a new position in TC Energy in the 2nd quarter valued at $46,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

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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