Brokerages Set TC Energy Co. (NYSE:TRP) Target Price at $48.50

TC Energy Co. (NYSE:TRP) (TSE:TRP) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $48.50.

TRP has been the subject of several research reports. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Barclays raised shares of TC Energy from an “equal weight” rating to an “overweight” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. The Goldman Sachs Group upped their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. Finally, StockNews.com initiated coverage on TC Energy in a report on Saturday, October 5th. They set a “hold” rating on the stock.

TC Energy Stock Performance

Shares of TRP opened at $46.52 on Friday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. The stock has a 50-day moving average of $46.36 and a two-hundred day moving average of $41.77. The stock has a market cap of $48.28 billion, a P/E ratio of 19.06, a P/E/G ratio of 3.91 and a beta of 0.81. TC Energy has a one year low of $31.04 and a one year high of $48.25.

TC Energy (NYSE:TRP) (TSE:TRP) last released its earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. As a group, research analysts predict that TC Energy will post 3.02 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Heronetta Management L.P. grew its stake in TC Energy by 4.9% during the 3rd quarter. Heronetta Management L.P. now owns 127,486 shares of the pipeline company’s stock valued at $6,062,000 after acquiring an additional 6,000 shares in the last quarter. Harvest Portfolios Group Inc. grew its position in shares of TC Energy by 107.7% in the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after purchasing an additional 117,176 shares in the last quarter. FSM Wealth Advisors LLC acquired a new stake in shares of TC Energy in the third quarter valued at approximately $222,000. Van ECK Associates Corp lifted its position in TC Energy by 12.9% during the third quarter. Van ECK Associates Corp now owns 338,248 shares of the pipeline company’s stock worth $15,880,000 after buying an additional 38,729 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in TC Energy by 1.1% during the third quarter. Janney Montgomery Scott LLC now owns 77,906 shares of the pipeline company’s stock worth $3,704,000 after buying an additional 840 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.

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.