Tc Pipelines (NYSE:TRP) Rating Increased to Buy at ValuEngine

Tc Pipelines (NYSE:TRP) (TSE:TRP) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday, ValuEngine reports.

TRP has been the subject of a number of other reports. Scotiabank reissued an “average” rating and set a $72.00 price target on shares of Tc Pipelines in a research note on Tuesday, May 28th. Industrial Alliance Securities reissued a “buy” rating on shares of Tc Pipelines in a research note on Monday, April 8th. GMP Securities reissued a “hold” rating and set a $48.00 price target on shares of Suncor Energy in a research note on Tuesday, May 7th. Credit Suisse Group set a €80.00 ($93.02) target price on shares of Siltronic and gave the company a “neutral” rating in a research note on Wednesday, May 29th. Finally, Zacks Investment Research raised shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Tc Pipelines currently has an average rating of “Hold” and an average target price of $54.43.

TRP opened at $50.66 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.34 and a current ratio of 0.37. The company has a market capitalization of $47.52 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 3.41 and a beta of 0.79. The business’s 50 day simple moving average is $49.47. Tc Pipelines has a fifty-two week low of $34.58 and a fifty-two week high of $51.36.

Tc Pipelines (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.04. The business had revenue of $2.62 billion during the quarter. Tc Pipelines had a net margin of 28.60% and a return on equity of 13.72%. As a group, equities analysts anticipate that Tc Pipelines will post 3 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the business. Clark Capital Management Group Inc. grew its position in Tc Pipelines by 60.4% in the second quarter. Clark Capital Management Group Inc. now owns 579,236 shares of the pipeline company’s stock worth $28,780,000 after buying an additional 218,097 shares during the last quarter. Sheets Smith Wealth Management acquired a new position in Tc Pipelines in the second quarter worth approximately $246,000. Nexus Investment Management Inc. grew its position in Tc Pipelines by 0.9% in the second quarter. Nexus Investment Management Inc. now owns 409,801 shares of the pipeline company’s stock worth $20,315,000 after buying an additional 3,510 shares during the last quarter. Exane Derivatives grew its position in Tc Pipelines by 58.6% in the second quarter. Exane Derivatives now owns 12,718 shares of the pipeline company’s stock worth $631,000 after buying an additional 4,700 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Tc Pipelines in the second quarter worth approximately $556,000. 57.09% of the stock is owned by hedge funds and other institutional investors.

About Tc Pipelines

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Energy segments. The company transports natural gas to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, and other businesses.

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Analyst Recommendations for Tc Pipelines (NYSE:TRP)

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