BMO Capital Markets Upgrades TC Energy (NYSE:TRP) to Outperform

TC Energy (NYSE:TRP) (TSE:TRP) was upgraded by stock analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday, MarketBeat.com reports.

Several other research analysts have also commented on TRP. Barclays restated an “overweight” rating on shares of TC Energy in a research note on Tuesday, October 14th. Cibc World Mkts downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TC Energy in a research report on Wednesday, October 8th. Wall Street Zen downgraded TC Energy from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Finally, US Capital Advisors downgraded TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.00.

TC Energy Price Performance

TRP opened at $52.18 on Friday. The stock has a fifty day moving average price of $52.17 and a 200 day moving average price of $50.31. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. TC Energy has a 1 year low of $43.51 and a 1 year high of $55.37. The stock has a market cap of $54.29 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 4.82 and a beta of 0.73.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, November 6th. The pipeline company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $2.63 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same period in the prior year, the firm posted $1.03 EPS. Analysts forecast that TC Energy will post 2.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TRP. Bank of New York Mellon Corp grew its stake in shares of TC Energy by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 915,241 shares of the pipeline company’s stock worth $43,209,000 after acquiring an additional 10,227 shares during the last quarter. FORA Capital LLC acquired a new stake in TC Energy in the 1st quarter worth $776,000. Fractal Investments LLC grew its position in TC Energy by 34.4% in the 2nd quarter. Fractal Investments LLC now owns 649,000 shares of the pipeline company’s stock worth $31,665,000 after purchasing an additional 166,000 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of TC Energy by 6.2% during the 1st quarter. TD Asset Management Inc now owns 17,455,740 shares of the pipeline company’s stock worth $824,243,000 after purchasing an additional 1,018,590 shares during the period. Finally, Cerity Partners LLC raised its position in shares of TC Energy by 113.2% during the first quarter. Cerity Partners LLC now owns 33,945 shares of the pipeline company’s stock valued at $1,603,000 after buying an additional 18,022 shares during the last quarter. 83.13% of the stock is owned by institutional investors.

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.