In a research note that was handed out to investors on Friday, Raymond James reportedly moved TC Energy’s (NYSE: TRP) (TSE: TRP) rating up from “market perform” to “outperform.” The modification was first mentioned in The Fly’s article.
TRP has been the subject of conversation among several other research professionals. Wells Fargo & Company has lowered its rating on TC Energy from “equal weight” to “underweight” in a report made public on Friday, December 15, 2018. On November 30, TD Securities issued a research report stating that they had decreased their price objective for TC Energy from C$76.00 to C$74.00. The report was accompanied by a graph that illustrated the change. On Wednesday, the report was made available to the public. TC Energy was first mentioned in a report released by StockNews.com on October 12, and coverage of the company has continued ever since. They advised their clients to “hold” the stock moving forward. Barclays lowered their price objective for TC Energy, which they had previously set at C$67.00, to C$65.00 in a report made public on October 19.
Last but not least, in a report distributed on November 30, the Royal Bank of Canada lowered its price objective on TC Energy from $75.00 to $73.00. The price goal had previously been set at $75.00. The stock has been rated “sell” by four equity research experts, “hold” by three analysts, and “buy” by four market watchers. Bloomberg reports that the stock is currently rated “Hold” on average and has been assigned an average price objective of $66.08.
On Friday, the opening price of trading for TC Energy’s common stock was $38.53 per share. The debt-to-equity ratio is 1.54; the quick ratio is 0.47; the current ratio is 0.53; and so on. The company’s market capitalization is currently sitting at $39.22 billion. It possesses a price-to-earnings ratio of 15.23, a price-to-earnings-to-growth ratio of 3.11, and a beta coefficient of 0.80. TC Energy hit a low of $38.35 over the past year, while the company reached a high of $59.38 over the same period. The company’s moving average over the previous 200 days is $46.66, while the moving average over the previous 50 days is $43.64.
The most recent report on TC Energy’s (NYSE: TRP) (TSE: TRP) financial performance was made available to the public on November 9. The pipeline company announced earnings per share for the quarter that came in at $0.82, which is $0.07 higher than the estimate compiled by market analysts as a consensus. The sum of $2.91 billion was recorded as the company’s total revenue during the questioned period. The net margin for TC Energy came in at 22.89%, and the company’s return on equity was 13.98%. TC Energy is expected to generate earnings of 3.17 cents per share during the current fiscal year, according to projections made by market experts.
During the past few months, the opinions of several hedge funds and institutional investors regarding TRP’s stock have undergone significant shifts. Capital World Investors successfully boosted the proportion of TC Energy shares it owned by 66.3% during the first three months of 2018. Capital World Investors has increased its holdings in the pipeline company’s common stock by 22,507,712 since the beginning of the current fiscal quarter. The stock has an estimated market value of $3,185,453,000 at this time. The Bank of America Corp.’s DE investment portfolio saw a 270.4% increase in its holdings of TC Energy during the first three months of 2018. After making an additional 11,445,541 share purchase during the most recent quarter, Bank of America Corp. (DE) now directly owns 15,677,795 pipeline business stock with a value of $884,541,000. These shares were acquired during the most recent quarter. Because of this, the total number of shares owned directly by the company is now 15,677,741. DURING THE THIRD QUARTER, Price T. Rowe Associates Inc. (MD) brought the total amount of TC Energy stock it owned to 60.8% higher than before. Price T. Rowe Associates Inc. (MD) has increased the number of shares of the pipeline company’s stock to 1,210,184,000 after purchasing an additional 11,355,601 shares in the past three months. The Canada Pension Plan Investment Board increased the amount of its investment in TC Energy by 123.3% during the third quarter of this year. The Canada Pension Plan Investment Board now holds 15,084,085 shares of the pipeline company’s stock, which are currently valued at $610,806,000 following the acquisition of an additional 8,329,085 shares during the most recent quarter. This brings the total number of shares held by the organization to 15,084,085. And finally, during the third quarter of this year, the Healthcare of Ontario Pension Plan Trust Fund increased the amount of TC Energy shares it owned by 95.3%, bringing the total amount of shares it owned to a total of 1. The Healthcare of Ontario Pension Plan Trust Fund now holds 11,583,694 shares of the pipeline company’s stock. These shares have a market value of $466,083,000 and were acquired by the fund after purchasing an additional 5,653,076 shares during the most recent quarter. At present, institutional investors own 71.86 percent of the equity in the company.
The TC Energy Corporation is an organization that focuses on developing energy infrastructure in North America. This industry can be broken down into five subcategories:
Pipelines for liquids
Pipelines for power and storage
Pipelines for natural gas in the United States
Pipelines for natural gas in Mexico
Pipelines for natural gas in Canada
All of these subcategories are located in North America. The company constructs and operates a natural gas pipeline to transport natural gas from supply basins to end users such as local distribution companies, power plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other types of businesses network that spans 93,300 kilometers.