TC Energy Co. (NYSE:TRP) Shares Acquired by State of Wyoming

State of Wyoming lifted its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 126.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 10,250 shares of the pipeline company's stock after acquiring an additional 5,730 shares during the period. State of Wyoming's holdings in TC Energy were worth $477,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Barclays PLC grew its position in TC Energy by 19.9% during the 3rd quarter. Barclays PLC now owns 528,528 shares of the pipeline company's stock worth $25,132,000 after purchasing an additional 87,885 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of TC Energy by 3.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 33,445 shares of the pipeline company's stock worth $1,558,000 after buying an additional 1,133 shares during the period. Park Avenue Securities LLC grew its holdings in shares of TC Energy by 144.5% during the fourth quarter. Park Avenue Securities LLC now owns 18,275 shares of the pipeline company's stock valued at $851,000 after buying an additional 10,802 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of TC Energy by 44.8% during the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company's stock valued at $1,115,000 after buying an additional 7,412 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new position in shares of TC Energy in the 4th quarter valued at $270,000. Institutional investors and hedge funds own 83.13% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Citigroup started coverage on TC Energy in a research report on Friday, April 4th. They set a "neutral" rating for the company. Royal Bank of Canada lifted their price objective on shares of 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 shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. Finally, CIBC raised shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Stock Performance

Shares of NYSE TRP opened at $49.47 on Tuesday. The company has a market capitalization of $51.43 billion, a PE ratio of 15.27, a price-to-earnings-growth 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. The company's fifty day moving average price is $48.48 and its 200 day moving average price is $47.51. TC Energy Co. has a 1 year low of $37.07 and a 1 year high of $51.34.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.04). TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The firm had revenue of $1.78 billion for the quarter, compared to analysts' expectations of $2.57 billion. During the same period in the previous year, the company earned $1.02 earnings per share. On average, research analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.6142 dividend. This represents a $2.46 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy's payout ratio is currently 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.

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