11,988 Shares in TC Energy Co. (NYSE:TRP) Purchased by Twinbeech Capital LP

Twinbeech Capital LP 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 Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,988 shares of the pipeline company's stock, valued at approximately $558,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of 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 buying an additional 87,885 shares during the period. Assenagon Asset Management S.A. grew its holdings in TC Energy by 3.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 33,445 shares of the pipeline company's stock worth $1,558,000 after acquiring an additional 1,133 shares during the period. HB Wealth Management LLC acquired a new stake in TC Energy during the 4th quarter worth $270,000. UMB Bank n.a. bought a new stake in shares of TC Energy during the 4th quarter valued at $47,000. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of TC Energy by 11.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 38,892 shares of the pipeline company's stock valued at $1,810,000 after purchasing an additional 4,073 shares during the period. 83.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TRP has been the subject of several analyst reports. Citigroup began coverage on TC Energy in a research report on Friday, April 4th. They set a "neutral" rating for the company. Cibc World Mkts upgraded shares of TC Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. Veritas raised shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Royal Bank of Canada raised their price objective on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Finally, US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Price Performance

Shares of TRP stock traded down $0.05 on Tuesday, hitting $50.41. 724,764 shares of the company's stock were exchanged, compared to its average volume of 2,503,220. The stock has a market cap of $52.40 billion, a P/E ratio of 15.59, 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 current ratio of 0.55 and a quick ratio of 1.23. TC Energy Co. has a 12 month low of $37.07 and a 12 month high of $51.34. The company has a 50 day moving average of $48.74 and a 200 day moving average of $47.57.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share 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 firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the prior year, the firm earned $1.02 EPS. On average, equities research analysts predict that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a dividend of $0.6142 per share. The ex-dividend date is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a yield of 4.87%. TC Energy's dividend payout ratio (DPR) is currently 77.89%.

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.