TC Energy (NYSE:TRP) Rating Increased to Buy at UBS Group

TC Energy (NYSE:TRP) (TSE:TRP) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, Marketbeat.com reports.

Other research analysts have also recently issued research reports about the stock. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. StockNews.com began coverage on shares of TC Energy in a research note on Friday, September 27th. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, TC Energy currently has an average rating of “Hold” and a consensus target price of $43.50.

TC Energy Stock Performance

Shares of TRP stock opened at $48.38 on Monday. TC Energy has a 52 week low of $32.51 and a 52 week high of $48.42. The firm has a 50 day moving average of $45.00 and a two-hundred day moving average of $40.72. The company has a quick ratio of 0.68, a current ratio of 0.76 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $50.19 billion, a PE ratio of 24.94, a P/E/G ratio of 3.80 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the company earned $0.71 EPS. On average, research analysts predict that TC Energy will post 3.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. EdgeRock Capital LLC acquired a new position in TC Energy in the second quarter valued at $25,000. Creekmur Asset Management LLC acquired a new stake in shares of TC Energy in the 4th quarter valued at about $27,000. Whittier Trust Co. of Nevada Inc. grew its stake in TC Energy by 138.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after buying an additional 429 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new position in TC Energy during the fourth quarter worth approximately $31,000. Finally, Mather Group LLC. purchased a new stake in TC Energy in the second quarter valued at approximately $33,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

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.