Morgan Stanley Downgrades TC Energy (TSE:TRP) to Sell

TC Energy (TSE:TRPGet Rating) (NYSE:TRP) was downgraded by equities researchers at Morgan Stanley to a “sell” rating in a report released on Tuesday, TipRanks reports. They presently have a C$78.00 price objective on the stock. Morgan Stanley’s target price would indicate a potential upside of 10.01% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Tudor Pickering & Holt lifted their price objective on TC Energy from C$63.00 to C$65.00 and gave the company a “hold” rating in a research report on Wednesday, February 16th. National Bankshares raised their price target on shares of TC Energy from C$65.00 to C$66.00 and gave the company a “sector perform” rating in a report on Thursday, February 17th. Royal Bank of Canada set a C$72.00 target price on shares of TC Energy and gave the stock an “outperform” rating in a research report on Wednesday, February 16th. Scotiabank boosted their price target on TC Energy from C$72.00 to C$78.00 in a research report on Wednesday, April 13th. Finally, Credit Suisse Group raised their price objective on TC Energy from C$74.00 to C$80.00 in a research note on Monday, April 11th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$70.50.

TSE TRP traded down C$0.26 during trading on Tuesday, reaching C$70.90. 736,432 shares of the company’s stock were exchanged, compared to its average volume of 5,287,023. The firm has a market capitalization of C$69.57 billion and a PE ratio of 38.16. TC Energy has a fifty-two week low of C$57.71 and a fifty-two week high of C$74.39. The company has a current ratio of 0.57, a quick ratio of 0.37 and a debt-to-equity ratio of 159.34. The company’s fifty day simple moving average is C$70.45 and its 200-day simple moving average is C$65.34.

TC Energy (TSE:TRPGet Rating) (NYSE:TRP) last released its quarterly earnings data on Tuesday, February 15th. The company reported C$1.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of C$1.06. The company had revenue of C$3.58 billion during the quarter. Equities analysts forecast that TC Energy will post 4.47 EPS for the current fiscal year.

In other news, Senior Officer Joel E. Hunter sold 20,282 shares of the stock in a transaction that occurred on Wednesday, February 16th. The stock was sold at an average price of C$66.47, for a total value of C$1,348,158.74. Following the completion of the sale, the insider now owns 8,660 shares of the company’s stock, valued at approximately C$575,636.26. Also, Senior Officer Christine R. Johnston sold 13,437 shares of the business’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of C$66.70, for a total transaction of C$896,247.90. Following the transaction, the insider now owns 3,715 shares in the company, valued at C$247,790.50. Over the last ninety days, insiders purchased 6,411 shares of company stock worth $443,372 and sold 128,831 shares worth $8,895,866.

TC Energy Company Profile (Get Rating)

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 Storage. The company builds and operates 93,300 km network 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.

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