4,496 Shares in TC Energy Corporation $TRP Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. purchased a new position in TC Energy Corporation (NYSE:TRP) (TSE:TRP) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,496 shares of the pipeline company’s stock, valued at approximately $219,000.

Several other institutional investors have also modified their holdings of TRP. Hilltop National Bank acquired a new position in shares of TC Energy in the second quarter worth about $32,000. Harbor Asset Planning Inc. bought a new stake in shares of TC Energy in the 2nd quarter worth about $43,000. TruNorth Capital Management LLC bought a new stake in shares of TC Energy in the 1st quarter worth about $45,000. Truvestments Capital LLC bought a new stake in shares of TC Energy in the 1st quarter worth about $45,000. Finally, SBI Securities Co. Ltd. increased its position in shares of TC Energy by 75.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,166 shares of the pipeline company’s stock worth $55,000 after purchasing an additional 501 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Down 0.7%

TC Energy stock opened at $50.19 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.61 and a debt-to-equity ratio of 1.54. The firm has a 50-day moving average price of $52.25 and a two-hundred day moving average price of $50.26. The firm has a market capitalization of $52.22 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 4.82 and a beta of 0.75. TC Energy Corporation has a 52-week low of $43.51 and a 52-week high of $55.37.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, July 31st. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $2.56 billion. TC Energy had a net margin of 28.98% and a return on equity of 11.22%. During the same period in the previous year, the business posted $0.79 EPS. Sell-side analysts expect that TC Energy Corporation will post 2.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TRP shares. Barclays reissued an “overweight” rating on shares of TC Energy in a research report on Tuesday, October 14th. Scotiabank reissued an “outperform” rating on shares of TC Energy in a research report on Monday, October 20th. Wall Street Zen downgraded shares of TC Energy from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Cibc World Mkts downgraded shares of TC Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Finally, TD Securities reissued a “buy” rating on shares of TC Energy in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

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.