TC Energy (NYSE:TRP) Now Covered by Analysts at Citigroup

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

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

TC Energy Trading Up 0.1 %

Shares of TC Energy stock opened at $48.75 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The business has a fifty day simple moving average of $46.60 and a two-hundred day simple moving average of $46.99. TC Energy has a 1 year low of $34.95 and a 1 year high of $50.37. The company has a market capitalization of $50.66 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 4.34 and a beta of 0.74.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter last year, the company posted $1.35 EPS. Research analysts forecast that TC Energy will post 2.63 EPS for the current year.

Institutional Investors Weigh In On TC Energy

A number of large investors have recently bought and sold shares of TRP. Versant Capital Management Inc raised its position in shares of TC Energy by 248.6% in the 1st quarter. Versant Capital Management Inc now owns 2,475 shares of the pipeline company’s stock valued at $117,000 after buying an additional 1,765 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in TC Energy by 21.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 56,590 shares of the pipeline company’s stock valued at $2,672,000 after acquiring an additional 9,905 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in TC Energy by 23.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 21,066 shares of the pipeline company’s stock valued at $980,000 after purchasing an additional 4,033 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in TC Energy during the fourth quarter worth $10,436,000. Finally, Value Partners Investments Inc. acquired a new stake in shares of TC Energy in the 4th quarter valued at $245,000. 83.13% of the stock is currently 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.