HF Advisory Group LLC Boosts Position in TC Energy Co. (NYSE:TRP)

HF Advisory Group LLC boosted its stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 10.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,784 shares of the pipeline company's stock after buying an additional 5,526 shares during the quarter. TC Energy accounts for approximately 1.2% of HF Advisory Group LLC's portfolio, making the stock its 23rd largest holding. HF Advisory Group LLC's holdings in TC Energy were worth $2,728,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. BROOKFIELD Corp ON boosted its position in shares of TC Energy by 31.6% in the 4th quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company's stock worth $87,950,000 after buying an additional 454,011 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in TC Energy by 7.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company's stock worth $10,463,000 after acquiring an additional 16,334 shares during the last quarter. AXA S.A. lifted its holdings in shares of TC Energy by 28.4% in the fourth quarter. AXA S.A. now owns 142,095 shares of the pipeline company's stock valued at $6,612,000 after purchasing an additional 31,441 shares in the last quarter. Cinctive Capital Management LP lifted its holdings in shares of TC Energy by 12.3% in the fourth quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company's stock valued at $9,042,000 after purchasing an additional 21,243 shares in the last quarter. Finally, Guardian Partners Inc. acquired a new stake in shares of TC Energy in the fourth quarter valued at approximately $8,614,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TRP. Citigroup started coverage on TC Energy in a research report on Friday, April 4th. They set a "neutral" rating for the company. Wall Street Zen cut TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Royal Bank of Canada increased their price objective on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Finally, Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. One 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Trading Down 1.3%

TC Energy stock traded down $0.68 during trading on Friday, hitting $50.70. The company's stock had a trading volume of 1,812,972 shares, compared to its average volume of 2,453,429. The stock's fifty day moving average is $49.10 and its 200 day moving average is $47.68. TC Energy Co. has a 1-year low of $37.07 and a 1-year high of $52.01. The stock has a market capitalization of $52.70 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 4.34 and a beta of 0.78. 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 (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $2.57 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period in the prior year, the company earned $1.02 EPS. As a group, equities research analysts predict that TC Energy Co. will post 2.63 EPS for the current 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. This represents a $2.46 annualized dividend and a yield of 4.85%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio (DPR) 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.