TC Energy (TSE:TRP) Cut to “Equal Weight” at Morgan Stanley

TC Energy (TSE:TRP) (NYSE:TRP) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. They presently have a C$103.00 target price on the stock. Morgan Stanley’s price objective indicates a potential upside of 7.01% from the stock’s current price.

Several other equities analysts have also issued reports on TRP. ATB Cormark Capital Markets lifted their price objective on shares of TC Energy from C$82.00 to C$87.00 and gave the company a “sector perform” rating in a report on Monday, May 4th. Raymond James Financial lifted their price objective on shares of TC Energy from C$74.00 to C$78.00 in a report on Monday, March 30th. National Bank Financial lifted their price objective on shares of TC Energy from C$92.00 to C$102.00 in a report on Monday, June 1st. Canadian Imperial Bank of Commerce lifted their price objective on shares of TC Energy from C$89.00 to C$94.00 in a report on Monday, May 4th. Finally, Jefferies Financial Group raised their target price on shares of TC Energy from C$80.00 to C$88.00 in a research note on Tuesday, February 17th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of C$89.86.

TC Energy Trading Up 1.2%

Shares of TSE:TRP traded up C$1.12 during trading on Wednesday, reaching C$96.25. 567,872 shares of the company were exchanged, compared to its average volume of 5,199,919. The firm has a market capitalization of C$100.27 billion, a PE ratio of 30.17, a P/E/G ratio of 1.69 and a beta of 0.70. The business’s fifty day simple moving average is C$89.92 and its 200-day simple moving average is C$83.61. TC Energy has a 12-month low of C$63.34 and a 12-month high of C$98.62. The company has a debt-to-equity ratio of 224.52, a current ratio of 0.65 and a quick ratio of 0.40.

TC Energy (TSE:TRP) (NYSE:TRP) last issued its earnings results on Friday, May 1st. The company reported C$0.99 EPS for the quarter. The business had revenue of C$3.86 billion for the quarter. TC Energy had a net margin of 21.83% and a return on equity of 12.53%. On average, research analysts anticipate that TC Energy will post 3.5490515 EPS for the current year.

Insider Buying and Selling at TC Energy

In other news, Director Trevor Ebl sold 5,000 shares of TC Energy stock in a transaction on Friday, May 15th. The shares were sold at an average price of C$93.45, for a total transaction of C$467,250.00. Also, insider Dawn Elizabeth De Lima sold 25,342 shares of TC Energy stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of C$88.73, for a total transaction of C$2,248,595.66. Following the sale, the insider owned 18,490 shares of the company’s stock, valued at C$1,640,617.70. The trade was a 57.82% decrease in their ownership of the stock. Insiders own 0.03% of the company’s stock.

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.