TC Energy (NYSE:TRP) Rating Lowered to “Sell” at Wall Street Zen

TC Energy (NYSE:TRP) (TSE:TRP) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Several other equities research analysts have also recently weighed in on the company. US Capital Advisors cut TC Energy from a “moderate buy” rating to a “hold” rating in a research note on Thursday, August 21st. Barclays reissued an “overweight” rating on shares of TC Energy in a research note on Thursday, August 14th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of TC Energy in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.00.

TC Energy Trading Up 1.6%

Shares of TRP stock opened at $55.16 on Friday. The stock has a market cap of $57.38 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 5.29 and a beta of 0.75. The stock has a 50-day moving average of $51.37 and a 200-day moving average of $49.62. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.54. TC Energy has a 1-year low of $43.51 and a 1-year high of $55.34.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $2.56 billion. TC Energy had a return on equity of 11.22% and a net margin of 28.98%.During the same quarter in the prior year, the firm posted $0.79 earnings per share. On average, equities research analysts forecast that TC Energy will post 2.63 earnings per share for the current year.

Institutional Investors Weigh In On TC Energy

Several large investors have recently added to or reduced their stakes in TRP. Hilltop National Bank acquired a new stake in TC Energy during the second quarter worth approximately $32,000. Harbor Asset Planning Inc. acquired a new stake in TC Energy in the second quarter valued at approximately $43,000. TruNorth Capital Management LLC acquired a new stake in TC Energy in the first quarter valued at approximately $45,000. Truvestments Capital LLC acquired a new stake in TC Energy in the first quarter valued at approximately $45,000. Finally, Sagard Holdings Management Inc. acquired a new stake in TC Energy in the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

About TC Energy

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.