TC Energy (TRP) Set to Announce Quarterly Earnings on Wednesday

TC Energy (NYSE:TRP) (TSE:TRP) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, November 8th. Analysts expect the company to announce earnings of $0.72 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

TC Energy Trading Up 0.8 %

TC Energy stock opened at $36.51 on Monday. TC Energy has a 52 week low of $32.51 and a 52 week high of $49.51. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.61. The firm has a market capitalization of $37.88 billion, a PE ratio of 50.71, a PEG ratio of 2.97 and a beta of 0.82. The business’s 50-day simple moving average is $35.32 and its 200-day simple moving average is $37.86.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TRP. ICA Group Wealth Management LLC lifted its holdings in TC Energy by 23.8% during the first quarter. ICA Group Wealth Management LLC now owns 1,450 shares of the pipeline company’s stock valued at $56,000 after purchasing an additional 279 shares in the last quarter. Boothbay Fund Management LLC lifted its holdings in TC Energy by 1.0% during the second quarter. Boothbay Fund Management LLC now owns 31,537 shares of the pipeline company’s stock valued at $1,274,000 after purchasing an additional 300 shares in the last quarter. Cetera Advisor Networks LLC lifted its holdings in TC Energy by 6.0% during the first quarter. Cetera Advisor Networks LLC now owns 5,664 shares of the pipeline company’s stock valued at $320,000 after purchasing an additional 323 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of TC Energy by 0.8% in the second quarter. Integrated Wealth Concepts LLC now owns 47,106 shares of the pipeline company’s stock worth $1,904,000 after buying an additional 356 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of TC Energy by 11.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,584 shares of the pipeline company’s stock worth $141,000 after acquiring an additional 380 shares during the last quarter. 73.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on TRP shares. Scotiabank reduced their target price on TC Energy from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Monday, July 31st. CIBC cut TC Energy from a “sector outperform” rating to a “neutral” rating in a report on Monday, July 24th. TheStreet downgraded shares of TC Energy from a “b-” rating to a “c” rating in a research note on Friday, July 28th. BMO Capital Markets downgraded shares of TC Energy from an “outperform” rating to a “market perform” rating in a research note on Friday, July 28th. Finally, StockNews.com initiated coverage on shares of TC Energy in a research note on Thursday, October 5th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to MarketBeat, TC Energy has a consensus rating of “Hold” and a consensus target price of $55.17.

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 93,700 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.