Twinbeech Capital LP Takes Position in TC Energy Co. (NYSE:TRP)

Twinbeech Capital LP bought a new position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,988 shares of the pipeline company's stock, valued at approximately $558,000.

Several other large investors have also added to or reduced their stakes in the business. NTV Asset Management LLC boosted its holdings in TC Energy by 4.0% in the fourth quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company's stock worth $288,000 after acquiring an additional 239 shares in the last quarter. Lee Financial Co boosted its holdings in TC Energy by 3.1% in the fourth quarter. Lee Financial Co now owns 8,185 shares of the pipeline company's stock worth $381,000 after acquiring an additional 246 shares in the last quarter. IFP Advisors Inc boosted its holdings in TC Energy by 7.0% in the fourth quarter. IFP Advisors Inc now owns 3,809 shares of the pipeline company's stock worth $177,000 after acquiring an additional 249 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in TC Energy by 1.7% in the fourth quarter. Benjamin Edwards Inc. now owns 16,003 shares of the pipeline company's stock worth $745,000 after acquiring an additional 273 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in TC Energy by 7.2% in the fourth quarter. Global Retirement Partners LLC now owns 4,099 shares of the pipeline company's stock worth $191,000 after acquiring an additional 274 shares in the last quarter. Institutional investors and hedge funds own 83.13% of the company's stock.

Analysts Set New Price Targets

TRP has been the topic of a number of recent research reports. Citigroup initiated coverage on TC Energy in a report on Friday, April 4th. They issued a "neutral" rating on the stock. US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Finally, CIBC upgraded TC Energy from a "neutral" rating to a "sector outperform" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Performance

TC Energy stock traded down $0.20 during mid-day trading on Wednesday, reaching $49.89. 253,078 shares of the company's stock were exchanged, compared to its average volume of 2,497,240. The business's fifty day simple moving average is $48.76 and its 200 day simple moving average is $47.59. The firm has a market capitalization of $51.87 billion, a PE ratio of 15.41, a P/E/G ratio of 4.34 and a beta of 0.78. TC Energy Co. has a one year low of $37.07 and a one year high of $51.34. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.

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 the consensus estimate of $0.70 by ($0.04). The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter in the previous year, the firm earned $1.02 earnings per share. On average, sell-side analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.6142 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 annualized dividend and a dividend yield of 4.92%. TC Energy's payout ratio is presently 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.