US Capital Advisors Downgrades TC Energy (NYSE:TRP) to Hold

TC Energy (NYSE:TRP) (TSE:TRP) was downgraded by US Capital Advisors from a “moderate buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other research analysts have also recently commented on TRP. Cibc World Mkts raised shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 2nd. Barclays reiterated an “overweight” rating on shares of TC Energy in a research report on Thursday, August 14th. Finally, CIBC upgraded shares of TC Energy from a “neutral” rating to a “sector outperform” rating in a research report on Friday, May 2nd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Trading Down 0.7%

Shares of TRP opened at $51.1540 on Thursday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.54 and a current ratio of 0.61. TC Energy has a 52-week low of $40.76 and a 52-week high of $52.10. The firm has a market cap of $53.20 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 4.93 and a beta of 0.75. The business’s fifty day moving average is $48.56 and its 200-day moving average is $48.28.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings data on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03. The business had revenue of $1.82 billion during 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 in the prior year, the company earned $0.79 EPS. Equities analysts anticipate that TC Energy will post 2.63 EPS for the current fiscal year.

Hedge Funds Weigh In On TC Energy

A number of hedge funds have recently modified their holdings of the business. Lowe Wealth Advisors LLC bought a new position in TC Energy during the 1st quarter worth $30,000. Hilltop National Bank acquired a new stake in shares of TC Energy in the second quarter valued at about $32,000. Harbor Asset Planning Inc. acquired a new stake in shares of TC Energy in the second quarter valued at about $43,000. TruNorth Capital Management LLC bought a new position in shares of TC Energy during the first quarter worth about $45,000. Finally, Truvestments Capital LLC acquired a new position in shares of TC Energy in the first quarter worth approximately $45,000. 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.