169,600 Shares in TC Energy Co. (NYSE:TRP) Acquired by Eagle Global Advisors LLC

Eagle Global Advisors LLC purchased a new stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 169,600 shares of the pipeline company's stock, valued at approximately $7,891,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in TC Energy during the fourth quarter valued at about $428,759,000. Mufg Securities Canada LTD. raised its stake in shares of TC Energy by 571.7% in the 4th 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. raised its stake in shares of TC Energy by 83.8% in the 4th quarter. Blackstone Inc. now owns 7,637,469 shares of the pipeline company's stock valued at $355,371,000 after acquiring an additional 3,482,874 shares in the last quarter. FIL Ltd lifted its holdings in TC Energy by 10.3% in the 4th quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock worth $1,325,558,000 after purchasing an additional 2,644,627 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in TC Energy during the fourth quarter worth approximately $102,405,000. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Price Performance

TC Energy stock traded down $1.39 during trading hours on Monday, hitting $48.03. 632,821 shares of the stock were exchanged, compared to its average volume of 2,515,864. The stock has a market capitalization of $49.93 billion, a P/E ratio of 14.82, a P/E/G ratio of 4.34 and a beta of 0.78. The business's 50-day moving average is $48.12 and its two-hundred day moving average is $47.40. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. TC Energy Co. has a 12 month low of $37.07 and a 12 month high of $51.34.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released 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 business had revenue of $1.78 billion for 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 quarter last year, the company earned $1.02 earnings per share. Equities research analysts expect that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.6142 per share. The ex-dividend date is Monday, June 30th. This represents a $2.46 annualized dividend and a yield of 5.12%. TC Energy's dividend payout ratio (DPR) is 77.89%.

Wall Street Analyst Weigh In

TRP has been the subject of a number of analyst reports. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research note on Friday, May 2nd. 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. Citigroup initiated coverage on TC Energy in a research note on Friday, April 4th. They set a "neutral" rating on the stock. TD Securities initiated coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. 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 given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, TC Energy has a consensus rating of "Moderate Buy" and an average price target of $62.00.

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 93,600 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.