Blackstone Inc. Boosts Stock Holdings in TC Energy Co. (NYSE:TRP)

Blackstone Inc. boosted its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 83.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,637,469 shares of the pipeline company's stock after acquiring an additional 3,482,874 shares during the quarter. TC Energy accounts for 1.6% of Blackstone Inc.'s portfolio, making the stock its 14th biggest holding. Blackstone Inc. owned about 0.74% of TC Energy worth $355,371,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of TC Energy during the 4th quarter worth $31,000. Versant Capital Management Inc bought a new position in TC Energy during the 4th quarter worth about $33,000. Synergy Investment Management LLC purchased a new position in TC Energy during the 4th quarter valued at about $36,000. Millstone Evans Group LLC bought a new stake in shares of TC Energy in the 4th quarter valued at about $41,000. Finally, First Command Advisory Services Inc. purchased a new stake in shares of TC Energy in the 4th quarter worth approximately $46,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TRP has been the topic of several research reports. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. Royal Bank of Canada boosted their price target on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. TD Securities assumed coverage on TC Energy in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Finally, Veritas raised shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Performance

Shares of NYSE TRP traded up $0.32 during midday trading on Friday, reaching $49.35. The company had a trading volume of 1,247,520 shares, compared to its average volume of 2,523,842. The stock has a market cap of $51.31 billion, a P/E ratio of 15.23, a P/E/G 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 Co. has a 1 year low of $37.07 and a 1 year high of $51.34. The business's 50-day simple moving average is $48.12 and its 200 day simple moving average is $47.39.

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). TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the prior year, the firm posted $1.02 EPS. On average, analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.6142 per share. This represents a $2.46 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio is presently 77.89%.

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.