Tc Pipelines (NYSE:TRP) Now Covered by Analysts at Morgan Stanley

Equities researchers at Morgan Stanley initiated coverage on shares of Tc Pipelines (NYSE:TRP) (TSE:TRP) in a note issued to investors on Monday, January 6th, The Fly reports. The firm set an “underweight” rating and a $63.00 price target on the pipeline company’s stock. Morgan Stanley’s target price suggests a potential upside of 17.98% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. CIBC set a $73.00 price target on shares of Tc Pipelines and gave the stock a “buy” rating in a report on Sunday, November 3rd. Scotiabank cut shares of Tc Pipelines from an “outperform” rating to a “sector perform” rating in a research report on Thursday, October 10th. ValuEngine cut shares of Tc Pipelines from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. Evercore ISI reissued a “hold” rating and issued a $60.00 target price on shares of Tc Pipelines in a research report on Wednesday, November 20th. Finally, Bank of America started coverage on shares of Tc Pipelines in a research report on Wednesday, December 18th. They issued a “neutral” rating and a $56.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Tc Pipelines has an average rating of “Hold” and an average target price of $64.75.

NYSE:TRP opened at $53.40 on Monday. The company has a market capitalization of $49.28 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 2.42 and a beta of 0.78. Tc Pipelines has a twelve month low of $40.76 and a twelve month high of $53.95. The company has a current ratio of 0.75, a quick ratio of 0.71 and a debt-to-equity ratio of 1.60. The firm has a 50-day moving average price of $52.16 and a two-hundred day moving average price of $50.80.

Tc Pipelines (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.03. The business had revenue of $2.37 billion during the quarter. Tc Pipelines had a net margin of 29.37% and a return on equity of 14.12%. On average, equities research analysts predict that Tc Pipelines will post 3.09 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC boosted its holdings in shares of Tc Pipelines by 19.2% during the second quarter. Cubist Systematic Strategies LLC now owns 13,348 shares of the pipeline company’s stock valued at $662,000 after acquiring an additional 2,147 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Tc Pipelines by 115.7% in the third quarter. Oppenheimer & Co. Inc. now owns 27,334 shares of the pipeline company’s stock worth $1,415,000 after purchasing an additional 14,663 shares during the period. Great West Life Assurance Co. Can lifted its holdings in Tc Pipelines by 1.0% in the third quarter. Great West Life Assurance Co. Can now owns 5,136,894 shares of the pipeline company’s stock worth $266,825,000 after purchasing an additional 50,733 shares during the period. Millennium Management LLC lifted its holdings in Tc Pipelines by 102.6% in the third quarter. Millennium Management LLC now owns 396,442 shares of the pipeline company’s stock worth $20,531,000 after purchasing an additional 200,724 shares during the period. Finally, Voya Financial Advisors Inc. lifted its holdings in Tc Pipelines by 101.9% in the third quarter. Voya Financial Advisors Inc. now owns 11,150 shares of the pipeline company’s stock worth $576,000 after purchasing an additional 5,627 shares during the period. 63.23% of the stock is currently owned by hedge funds and other institutional investors.

About Tc Pipelines

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Energy segments. The company transports natural gas to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, and other businesses.

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Analyst Recommendations for Tc Pipelines (NYSE:TRP)

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