TC Energy (NYSE:TRP) Earns Neutral Rating from Analysts at Citigroup

Stock analysts at Citigroup started coverage on shares of TC Energy (NYSE:TRP) (TSE:TRP) in a research report issued on Friday, Marketbeat reports. The firm set a “neutral” rating on the pipeline company’s stock.

TRP has been the subject of a number of other reports. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. TD Securities initiated coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a “buy” rating for the company. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. StockNews.com cut shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Royal Bank of Canada increased their target price on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Stock Performance

Shares of TRP stock opened at $46.07 on Friday. TC Energy has a 52 week low of $34.95 and a 52 week high of $50.37. The firm has a 50 day moving average of $46.57 and a two-hundred day moving average of $46.99. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $47.88 billion, a PE ratio of 14.22, a P/E/G ratio of 4.34 and a beta of 0.74.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) 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 firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period last year, the business posted $1.35 earnings per share. On average, research analysts predict that TC Energy will post 2.63 EPS for the current fiscal year.

Institutional Trading of TC Energy

A number of large investors have recently made changes to their positions in TRP. Norges Bank purchased a new stake in TC Energy in the fourth quarter valued at approximately $428,759,000. Mufg Securities Canada LTD. increased its holdings in shares of TC Energy by 571.7% in the 4th quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company’s stock valued at $288,043,000 after acquiring an additional 5,264,079 shares during the period. Blackstone Inc. raised its position in TC Energy by 83.8% in the 4th quarter. Blackstone Inc. now owns 7,637,469 shares of the pipeline company’s stock valued at $355,371,000 after purchasing an additional 3,482,874 shares during the last quarter. FIL Ltd boosted its stake in 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 period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in TC Energy during the 4th quarter worth $102,405,000. 83.13% of the stock is 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.