TC Energy (NYSE:TRP) Rating Increased to Overweight at Morgan Stanley

TC Energy (NYSE:TRP) (TSE:TRP) was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “overweight” rating in a research note issued on Friday, Briefing.com reports.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group lifted their price target on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday. Veritas raised TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Finally, Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, TC Energy presently has a consensus rating of “Hold” and a consensus price target of $48.50.

TC Energy Stock Performance

NYSE:TRP opened at $46.99 on Friday. The firm has a market capitalization of $48.77 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The business’s fifty day moving average price is $46.08 and its 200 day moving average price is $41.40. TC Energy has a 12 month low of $30.61 and a 12 month high of $48.25.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.29. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same quarter last year, the company earned $0.71 EPS. On average, sell-side analysts anticipate that TC Energy will post 3.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TC Energy

Several institutional investors have recently bought and sold shares of TRP. Intech Investment Management LLC purchased a new stake in shares of TC Energy in the first quarter valued at about $1,159,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of TC Energy by 15.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,109,055 shares of the pipeline company’s stock valued at $81,599,000 after buying an additional 278,886 shares in the last quarter. M&G Plc acquired a new position in TC Energy during the first quarter worth $111,587,000. Cetera Investment Advisers raised its position in TC Energy by 74.1% in the first quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock worth $3,972,000 after acquiring an additional 42,024 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its holdings in TC Energy by 1.8% in the first quarter. Maryland State Retirement & Pension System now owns 1,302,358 shares of the pipeline company’s stock valued at $52,355,000 after acquiring an additional 22,430 shares during the period. 83.13% of the stock is owned by institutional investors and hedge funds.

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.