TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) had its price target reduced by equities research analysts at Barclays from $51.00 to $50.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the pipeline company’s stock. Barclays‘s target price would suggest a potential upside of 44.89% from the stock’s current price.
A number of other equities analysts have also weighed in on TRP. TD Securities lowered shares of TC Energy from a “buy” rating to a “hold” rating and dropped their target price for the stock from $62.00 to $50.00 in a research report on Friday, July 28th. Wells Fargo & Company upgraded shares of TC Energy from an “underweight” rating to an “equal weight” rating and set a $47.00 target price for the company in a research report on Friday, September 8th. Royal Bank of Canada dropped their target price on shares of TC Energy from $65.00 to $54.00 and set an “outperform” rating for the company in a research report on Monday, July 31st. Scotiabank dropped their target price on shares of TC Energy from $64.00 to $55.00 and set an “outperform” rating for the company in a research report on Monday, July 31st. Finally, StockNews.com assumed coverage on shares of TC Energy in a research report on Thursday, October 5th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, TC Energy has an average rating of “Hold” and an average target price of $55.17.
View Our Latest Stock Report on TRP
TC Energy Stock Performance
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last issued its earnings results on Thursday, July 27th. The pipeline company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.02). TC Energy had a return on equity of 13.80% and a net margin of 6.89%. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.74 billion. Equities analysts forecast that TC Energy will post 3.19 earnings per share for the current fiscal year.
Institutional Investors Weigh In On TC Energy
Several institutional investors have recently made changes to their positions in TRP. Bank of Montreal Can bought a new stake in shares of TC Energy in the 2nd quarter worth about $2,243,924,000. Norges Bank bought a new stake in shares of TC Energy in the 4th quarter worth about $519,894,000. National Bank of Canada FI increased its stake in TC Energy by 65.1% in the 1st quarter. National Bank of Canada FI now owns 22,706,820 shares of the pipeline company’s stock worth $882,692,000 after buying an additional 8,950,372 shares during the period. Jarislowsky Fraser Ltd increased its stake in TC Energy by 78.6% in the 1st quarter. Jarislowsky Fraser Ltd now owns 12,387,569 shares of the pipeline company’s stock worth $481,187,000 after buying an additional 5,449,857 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in TC Energy by 80.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,070,018 shares of the pipeline company’s stock worth $430,564,000 after buying an additional 4,950,000 shares during the period. Institutional investors own 73.67% of the company’s stock.
About TC Energy
TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,700 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.
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