Moore Capital Management LP Acquires Shares of 417,522 TC Energy Co. (NYSE:TRP)

Moore Capital Management LP bought a new position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 417,522 shares of the pipeline company's stock, valued at approximately $19,427,000.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of TC Energy in the 4th quarter worth approximately $428,759,000. Mufg Securities Canada LTD. raised its holdings in shares of TC Energy by 571.7% during the fourth quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company's stock valued at $288,043,000 after acquiring an additional 5,264,079 shares in the last quarter. Blackstone Inc. lifted its stake in TC Energy by 83.8% in the fourth quarter. Blackstone Inc. now owns 7,637,469 shares of the pipeline company's stock worth $355,371,000 after acquiring an additional 3,482,874 shares during the period. FIL Ltd boosted its holdings in TC Energy by 10.3% in the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock valued at $1,325,558,000 after acquiring an additional 2,644,627 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in TC Energy during the 4th quarter valued at $102,405,000. 83.13% of the stock is owned by institutional investors.

TC Energy Stock Up 0.7%

TRP traded up $0.33 during midday trading on Wednesday, reaching $48.90. The company's stock had a trading volume of 1,472,888 shares, compared to its average volume of 2,516,996. TC Energy Co. has a 1 year low of $37.07 and a 1 year high of $51.34. The stock's 50-day moving average is $48.28 and its 200-day moving average is $47.42. The firm has a market capitalization of $50.84 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 4.34 and a beta of 0.78. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.04). The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period in the prior year, the firm earned $1.02 earnings per share. As a group, research analysts expect that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.6142 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.02%. TC Energy's dividend payout ratio is currently 77.89%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TRP. Cibc World Mkts raised shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. Royal Bank of Canada lifted their price objective on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Citigroup assumed coverage on TC Energy in a research report on Friday, April 4th. They set a "neutral" rating on the stock. Finally, StockNews.com lowered TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, TC Energy presently has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy 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.