TC Energy (NYSE:TRP) Upgraded by Veritas to "Strong-Buy" Rating

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP was upgraded by investment analysts at Veritas from a "strong sell" rating to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

A number of other research analysts also recently commented on the company. US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. BMO Capital Markets boosted their target price on TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a research note on Wednesday, November 20th. Morgan Stanley upgraded TC Energy from an "underweight" rating to an "overweight" rating in a research note on Friday, October 25th. Royal Bank of Canada boosted their target price on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, TD Securities started coverage on TC Energy in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, TC Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Stock Down 1.3 %

Shares of TRP stock traded down $0.60 on Tuesday, reaching $44.94. 2,068,058 shares of the company's stock traded hands, compared to its average volume of 2,106,917. TC Energy has a 12-month low of $31.83 and a 12-month high of $50.37. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. The company has a market capitalization of $46.70 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 4.37 and a beta of 0.81. The business's 50 day moving average price is $46.48 and its two-hundred day moving average price is $46.63.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the previous year, the company posted $1.35 earnings per share. On average, equities analysts forecast 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 made changes to their positions in TRP. Norges Bank acquired a new stake in shares of TC Energy in the fourth quarter worth about $428,759,000. Mufg Securities Canada LTD. lifted its position in shares of TC Energy by 571.7% during the 4th quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company's stock worth $288,043,000 after purchasing an additional 5,264,079 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of TC Energy by 156.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company's stock worth $321,778,000 after purchasing an additional 4,126,801 shares during the last quarter. Blackstone Inc. lifted its position in shares of TC Energy by 83.8% during the 4th quarter. Blackstone Inc. now owns 7,637,469 shares of the pipeline company's stock worth $355,371,000 after purchasing an additional 3,482,874 shares during the last quarter. Finally, FIL Ltd lifted its position in shares of TC Energy by 10.3% during the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock worth $1,325,558,000 after purchasing an additional 2,644,627 shares during the last quarter. Institutional investors and hedge funds 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.