TC Energy (TSE:TRP) Cut to Hold at TD Securities

TD Securities downgraded shares of TC Energy (TSE:TRP) (NYSE:TRP) from a buy rating to a hold rating in a report released on Tuesday, MarketBeat reports. The firm currently has C$88.00 target price on the stock, up from their previous target price of C$84.00.

A number of other research firms also recently issued reports on TRP. Raymond James Financial lifted their price target on shares of TC Energy from C$71.00 to C$74.00 and gave the company a “hold” rating in a research report on Tuesday. Jefferies Financial Group raised their price objective on TC Energy from C$74.00 to C$80.00 in a research note on Wednesday, February 4th. Royal Bank Of Canada lifted their price objective on TC Energy from C$84.00 to C$92.00 and gave the stock an “outperform” rating in a report on Tuesday. Scotiabank upped their target price on TC Energy from C$81.00 to C$86.00 in a report on Friday, January 16th. Finally, BMO Capital Markets upgraded TC Energy from a “hold” rating to an “outperform” rating and raised their price target for the company from C$73.00 to C$83.00 in a research report on Friday, November 7th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$84.00.

TC Energy Price Performance

Shares of TSE TRP opened at C$85.63 on Tuesday. The company has a debt-to-equity ratio of 237.62, a quick ratio of 0.40 and a current ratio of 1.31. TC Energy has a one year low of C$62.17 and a one year high of C$86.97. The firm has a market capitalization of C$89.13 billion, a P/E ratio of 26.19, a PEG ratio of 1.69 and a beta of 0.86. The company’s fifty day moving average is C$77.95 and its two-hundred day moving average is C$74.64.

TC Energy (TSE:TRP) (NYSE:TRP) last announced its quarterly earnings results on Friday, February 13th. The company reported C$0.98 earnings per share (EPS) for the quarter. The business had revenue of C$4.17 billion during the quarter. TC Energy had a net margin of 32.39% and a return on equity of 17.25%. Analysts forecast that TC Energy will post 3.5490515 EPS for the current fiscal year.

About TC Energy

TC Energy Corp operates as an energy infrastructure company, consisting of pipeline and power generation assets in Canada, the United States, and Mexico. Its pipeline network consists of over 92,600 kilometers (57,500 miles) of natural gas pipeline, along with 4,900 kilometers (3,000) miles) from the Keystone Pipeline system. The company also owns or has interests in 11 power-generation facilities with a capacity of 6,600 megawatts.