Private Advisor Group LLC Buys Shares of 5,322 TC Energy Co. (NYSE:TRP)

Private Advisor Group LLC bought a new position in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,322 shares of the pipeline company’s stock, valued at approximately $208,000.

Several other hedge funds have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of TC Energy by 70.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 16,540,018 shares of the pipeline company’s stock worth $569,058,000 after acquiring an additional 6,840,000 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of TC Energy by 18.0% during the third quarter. Canada Pension Plan Investment Board now owns 24,574,983 shares of the pipeline company’s stock worth $849,037,000 after purchasing an additional 3,740,495 shares in the last quarter. Blackstone Inc. lifted its holdings in shares of TC Energy by 540.4% during the 3rd quarter. Blackstone Inc. now owns 3,117,031 shares of the pipeline company’s stock valued at $107,257,000 after purchasing an additional 2,630,324 shares during the last quarter. Morgan Stanley boosted its position in shares of TC Energy by 42.5% in the 3rd quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock worth $234,719,000 after purchasing an additional 2,034,846 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in TC Energy during the 3rd quarter worth $64,449,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

TC Energy Trading Up 0.7 %

NYSE TRP opened at $38.39 on Friday. TC Energy Co. has a 1 year low of $32.51 and a 1 year high of $41.85. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.94 and a quick ratio of 0.85. The company has a market capitalization of $38.39 billion, a PE ratio of 19.79, a P/E/G ratio of 3.19 and a beta of 0.75. The company has a fifty day moving average of $38.03 and a 200 day moving average of $38.50.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Friday, May 3rd. The pipeline company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. TC Energy had a return on equity of 17.94% and a net margin of 17.23%. The business had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Research analysts forecast that TC Energy Co. will post 2.99 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 annualized dividend and a yield of 7.40%. TC Energy’s dividend payout ratio is presently 143.30%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays raised their price target on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. TheStreet upgraded shares of TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group started coverage on shares of TC Energy in a research note on Tuesday, February 27th. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.83.

TC Energy Company Profile

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 93,600 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.