Eagle Global Advisors LLC Makes New $7.89 Million Investment in TC Energy Co. (NYSE:TRP)

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BROOKFIELD Corp ON boosted its holdings in shares of TC Energy by 31.6% during the 4th quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock valued at $87,950,000 after buying an additional 454,011 shares in the last quarter. Addenda Capital Inc. boosted its stake in TC Energy by 4.4% during the fourth quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company's stock worth $48,135,000 after acquiring an additional 43,639 shares in the last quarter. Ritholtz Wealth Management grew its holdings in TC Energy by 44.8% in the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company's stock worth $1,115,000 after purchasing an additional 7,412 shares during the period. O Shaughnessy Asset Management LLC increased its position in TC Energy by 7.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company's stock valued at $10,463,000 after buying an additional 16,334 shares in the last quarter. Finally, Cinctive Capital Management LP raised its stake in TC Energy by 12.3% during the fourth quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company's stock valued at $9,042,000 after buying an additional 21,243 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TRP has been the topic of a number of recent research reports. StockNews.com cut TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. TD Securities initiated coverage on shares of TC Energy in a report on Wednesday, January 15th. They set a "buy" rating on the stock. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Finally, Cibc World Mkts raised TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, TC Energy has an average rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Stock Performance

Shares of TRP traded up $0.32 during trading hours on Friday, hitting $49.35. The stock had a trading volume of 1,247,520 shares, compared to its average volume of 2,523,842. TC Energy Co. has a 12 month low of $37.07 and a 12 month high of $51.34. The stock has a fifty day moving average price of $48.12 and a 200 day moving average price of $47.39. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The firm has a market capitalization of $51.31 billion, a PE ratio of 15.23, a PEG ratio of 4.34 and a beta of 0.78.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (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 business had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same period in the previous year, the business posted $1.02 EPS. Analysts anticipate that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 dividend yield of 4.98%. The ex-dividend date is Monday, June 30th. TC Energy's payout ratio is 77.89%.

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.