TC Energy (NYSE:TRP) Rating Lowered to “Hold” at Cibc World Mkts

TC Energy (NYSE:TRP) (TSE:TRP) was downgraded by Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

TRP has been the topic of several other reports. Wall Street Zen downgraded TC Energy from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Barclays reiterated an “overweight” rating on shares of TC Energy in a report on Thursday, August 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of TC Energy in a report on Wednesday. Finally, US Capital Advisors downgraded shares of TC Energy from a “moderate buy” rating to a “hold” rating in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Trading Up 0.2%

Shares of TRP opened at $52.82 on Thursday. TC Energy has a 1-year low of $43.51 and a 1-year high of $55.37. The company has a 50-day moving average of $52.01 and a 200 day moving average of $49.78. The firm has a market capitalization of $54.95 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 4.93 and a beta of 0.75. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.61 and a quick ratio of 0.54.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same period last year, the business posted $0.79 EPS. On average, research analysts expect that TC Energy will post 2.63 EPS for the current year.

Institutional Investors Weigh In On TC Energy

Several institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its holdings in shares of TC Energy by 2,565.1% in the first quarter. Goldman Sachs Group Inc. now owns 16,306,187 shares of the pipeline company’s stock valued at $769,815,000 after purchasing an additional 15,694,336 shares during the period. Norges Bank purchased a new stake in shares of TC Energy in the 2nd quarter valued at $493,434,000. Bank of Nova Scotia boosted its holdings in shares of TC Energy by 80.3% in the 1st quarter. Bank of Nova Scotia now owns 16,983,443 shares of the pipeline company’s stock valued at $802,164,000 after acquiring an additional 7,562,887 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of TC Energy by 34.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 19,808,558 shares of the pipeline company’s stock valued at $935,627,000 after acquiring an additional 5,053,228 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of TC Energy by 175.1% in the 1st quarter. Deutsche Bank AG now owns 5,758,203 shares of the pipeline company’s stock valued at $271,845,000 after acquiring an additional 3,664,862 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

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.