TC Energy (TSE:TRP) Cut to “Equal Weight” at Morgan Stanley

TC Energy (TSE:TRP) (NYSE:TRP) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Wednesday,BayStreet.CA reports. They presently have a C$103.00 price target on the stock. Morgan Stanley’s price objective suggests a potential upside of 7.01% from the company’s previous close.

TRP has been the subject of a number of other research reports. Barclays increased their price target on shares of TC Energy from C$88.00 to C$92.00 in a report on Monday, May 4th. The Goldman Sachs Group raised shares of TC Energy from a “sell” rating to a “hold” rating and set a C$62.00 price target for the company in a report on Sunday, April 19th. TD increased their price target on shares of TC Energy from C$90.00 to C$98.00 and gave the company a “hold” rating in a report on Tuesday, May 26th. ATB Cormark Capital Markets increased their price objective on shares of TC Energy from C$82.00 to C$87.00 and gave the stock a “sector perform” rating in a research report on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce increased their price objective on shares of TC Energy from C$89.00 to C$94.00 in a research report on Monday, May 4th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$89.86.

TC Energy Trading Up 1.2%

Shares of TSE:TRP traded up C$1.12 during trading on Wednesday, reaching C$96.25. The company’s stock had a trading volume of 567,872 shares, compared to its average volume of 5,199,919. The company has a current ratio of 0.65, a quick ratio of 0.40 and a debt-to-equity ratio of 224.52. TC Energy has a 12 month low of C$63.34 and a 12 month high of C$98.62. The firm’s 50 day simple moving average is C$89.92 and its two-hundred day simple moving average is C$83.61. The stock has a market capitalization of C$100.27 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Friday, May 1st. The company reported C$0.99 EPS for the quarter. TC Energy had a net margin of 21.83% and a return on equity of 12.53%. The firm had revenue of C$3.86 billion during the quarter. On average, research analysts predict that TC Energy will post 3.5490515 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Trevor Ebl sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of C$93.45, for a total transaction of C$467,250.00. Also, insider Dawn Elizabeth De Lima sold 25,342 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of C$88.73, for a total transaction of C$2,248,595.66. Following the transaction, the insider directly owned 18,490 shares in the company, valued at approximately C$1,640,617.70. This trade represents a 57.82% decrease in their ownership of the stock. Company insiders own 0.03% of the company’s stock.

TC Energy Company Profile

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.