Ewing Morris & Co. Investment Partners Ltd. Takes Position in TC Energy Co. (NYSE:TRP)

Ewing Morris & Co. Investment Partners Ltd. acquired a new position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,958 shares of the pipeline company's stock, valued at approximately $1,627,000.

Other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in TC Energy during the fourth quarter worth $31,000. Synergy Investment Management LLC acquired a new stake in shares of TC Energy in the fourth quarter valued at $36,000. Millstone Evans Group LLC acquired a new stake in shares of TC Energy in the fourth quarter valued at $41,000. First Command Advisory Services Inc. acquired a new stake in shares of TC Energy in the fourth quarter valued at $46,000. Finally, Rogco LP increased its stake in shares of TC Energy by 100.0% in the fourth quarter. Rogco LP now owns 1,000 shares of the pipeline company's stock valued at $47,000 after buying an additional 500 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Trading Up 0.7%

TC Energy stock traded up $0.32 during mid-day trading on Friday, hitting $49.35. The stock had a trading volume of 1,247,520 shares, compared to its average volume of 2,523,317. 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 12 month low of $37.07 and a 12 month high of $51.34. The stock has a market capitalization of $51.31 billion, a PE ratio of 15.23, a P/E/G ratio of 4.34 and a beta of 0.78. The stock has a 50-day simple moving average of $48.12 and a two-hundred day simple moving average of $47.40.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its earnings results 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 company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the business posted $1.02 EPS. As a group, sell-side analysts forecast 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. Shareholders of record on Monday, June 30th will be issued 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 (DPR) is currently 77.89%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TRP shares. Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. Citigroup started coverage on TC Energy in a research note on Friday, April 4th. They issued a "neutral" rating for the company. TD Securities started coverage on TC Energy in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. Finally, StockNews.com lowered TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently 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.