MassMutual Private Wealth & Trust FSB Raises Position in TC Energy Co. (NYSE:TRP)

MassMutual Private Wealth & Trust FSB boosted its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 21.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,590 shares of the pipeline company's stock after purchasing an additional 9,905 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in TC Energy were worth $2,672,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

TRP has been the topic of a number of research analyst reports. Royal Bank of Canada upped their price target on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Citigroup initiated coverage on shares of TC Energy in a research report on Friday, April 4th. They set a "neutral" rating on the stock. Veritas raised shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Finally, Wall Street Zen cut shares of TC Energy from a "buy" rating to a "hold" rating in a research report 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 given a strong buy rating to the company. Based on data from MarketBeat, TC Energy currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Up 1.5%

NYSE TRP traded up $0.75 during trading hours on Friday, hitting $50.60. The company's stock had a trading volume of 3,120,790 shares, compared to its average volume of 2,486,484. TC Energy Co. has a 52 week low of $37.07 and a 52 week high of $51.34. The company has a market capitalization of $52.61 billion, a PE ratio of 15.62, a price-to-earnings-growth 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. The company's 50-day simple moving average is $48.83 and its two-hundred day simple moving average is $47.62.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the business posted $1.02 EPS. Research analysts anticipate that TC Energy Co. will post 2.63 EPS 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. Investors of record on Monday, June 30th will be given a $0.6142 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.46 annualized dividend and a yield of 4.86%. TC Energy's payout ratio is 77.89%.

TC Energy Company 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.