The Goldman Sachs Group Downgrades TC Energy (NYSE:TRP) to Sell

TC Energy (NYSE:TRP) (TSE:TRP) was downgraded by investment analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research report issued on Thursday, Price Targets.com reports. They presently have a $45.00 price objective on the pipeline company’s stock. The Goldman Sachs Group’s price target suggests a potential downside of 10.04% from the stock’s current price.

TRP has been the topic of a number of other research reports. TD Securities reduced their target price on TC Energy from C$73.00 to C$72.00 and set a “buy” rating on the stock in a report on Monday, November 8th. TheStreet lowered TC Energy from a “b” rating to a “c+” rating in a research report on Tuesday, November 30th. CIBC dropped their target price on TC Energy from C$72.00 to C$69.00 in a research report on Tuesday. Raymond James began coverage on TC Energy in a research report on Wednesday, December 22nd. They set a “strong-buy” rating on the stock. Finally, National Bank Financial lowered TC Energy from an “outperform” rating to a “sector perform” rating in a report on Monday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $67.30.

TC Energy stock opened at $50.02 on Thursday. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 1.52. The stock has a 50 day moving average of $47.64 and a two-hundred day moving average of $48.95. The stock has a market capitalization of $49.06 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 3.82 and a beta of 0.80. TC Energy has a twelve month low of $41.89 and a twelve month high of $55.34.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, November 5th. The pipeline company reported $0.79 earnings per share for the quarter, meeting the consensus estimate of $0.79. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $3.51 billion. TC Energy had a return on equity of 15.17% and a net margin of 15.35%. During the same period last year, the business posted $0.71 EPS. Equities analysts predict that TC Energy will post 3.35 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Capital International Sarl lifted its stake in shares of TC Energy by 10.7% in the second quarter. Capital International Sarl now owns 192,818 shares of the pipeline company’s stock valued at $9,542,000 after buying an additional 18,702 shares during the period. Atria Investments LLC bought a new position in TC Energy in the second quarter valued at approximately $1,112,000. Qube Research & Technologies Ltd boosted its stake in TC Energy by 53.6% in the second quarter. Qube Research & Technologies Ltd now owns 93,328 shares of the pipeline company’s stock valued at $4,622,000 after acquiring an additional 32,566 shares during the last quarter. Marshall Wace LLP boosted its position in shares of TC Energy by 3.1% during the second quarter. Marshall Wace LLP now owns 828,854 shares of the pipeline company’s stock worth $41,057,000 after purchasing an additional 25,296 shares in the last quarter. Finally, Raymond James & Associates boosted its position in shares of TC Energy by 0.8% during the third quarter. Raymond James & Associates now owns 1,193,622 shares of the pipeline company’s stock worth $57,364,000 after purchasing an additional 9,040 shares in the last quarter. Hedge funds and other institutional investors own 69.71% of the company’s stock.

TC Energy Company Profile

TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Storage, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.

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Analyst Recommendations for TC Energy (NYSE:TRP)

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