Tc Pipelines (NYSE:TRP) (TSE:TRP) was downgraded by equities research analysts at Industrial Alliance Securities from a “buy” rating to a “hold” rating in a note issued to investors on Friday, The Fly reports.
Other equities research analysts also recently issued research reports about the company. Morgan Stanley assumed coverage on Tc Pipelines in a report on Monday, January 6th. They issued an “underweight” rating and a $63.00 target price on the stock. Bank of America assumed coverage on Tc Pipelines in a report on Wednesday, December 18th. They issued a “neutral” rating and a $56.00 target price on the stock. Credit Suisse Group set a $70.00 target price on Tc Pipelines and gave the company a “hold” rating in a report on Monday, October 21st. TD Securities downgraded Tc Pipelines to a “buy” rating in a report on Monday, November 4th. Finally, Tudor Pickering downgraded Tc Pipelines from a “buy” rating to a “hold” rating in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $65.44.
NYSE:TRP traded up $0.74 during trading hours on Friday, reaching $56.35. 1,796,200 shares of the company were exchanged, compared to its average volume of 1,503,547. The company has a market capitalization of $51.85 billion, a P/E ratio of 17.45, a P/E/G ratio of 3.30 and a beta of 0.73. Tc Pipelines has a 1-year low of $42.64 and a 1-year high of $56.38. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.75 and a quick ratio of 0.71. The business has a 50 day moving average of $54.09 and a 200 day moving average of $51.48.
Tc Pipelines (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Thursday, February 13th. The pipeline company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.25. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $3.71 billion. Tc Pipelines had a return on equity of 14.12% and a net margin of 29.37%. During the same quarter in the prior year, the business posted $1.03 earnings per share. As a group, equities research analysts anticipate that Tc Pipelines will post 3.1 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Wealthcare Advisory Partners LLC bought a new position in Tc Pipelines during the 4th quarter worth $25,000. Orion Portfolio Solutions LLC bought a new position in Tc Pipelines during the 4th quarter worth $25,000. Garrett Wealth Advisory Group LLC bought a new position in Tc Pipelines during the 3rd quarter worth $29,000. Quest Capital Management Inc. ADV bought a new position in Tc Pipelines during the 3rd quarter worth $29,000. Finally, Huntington National Bank raised its position in Tc Pipelines by 144.4% during the 4th quarter. Huntington National Bank now owns 550 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 325 shares during the last quarter. Institutional investors own 63.24% of the company’s stock.
Tc Pipelines Company Profile
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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