15,928 Shares in TC Energy Co. (NYSE:TRP) Bought by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA purchased a new position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,928 shares of the pipeline company's stock, valued at approximately $713,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of TRP. Apollon Wealth Management LLC boosted its stake in shares of TC Energy by 20.0% during the fourth quarter. Apollon Wealth Management LLC now owns 12,677 shares of the pipeline company's stock worth $590,000 after buying an additional 2,109 shares during the period. Kingsview Wealth Management LLC increased its position in TC Energy by 44.8% in the 4th quarter. Kingsview Wealth Management LLC now owns 6,157 shares of the pipeline company's stock valued at $286,000 after acquiring an additional 1,906 shares during the period. Allspring Global Investments Holdings LLC raised its stake in TC Energy by 53.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 219,975 shares of the pipeline company's stock valued at $10,420,000 after acquiring an additional 76,827 shares during the last quarter. Van ECK Associates Corp lifted its position in TC Energy by 3.6% during the 4th quarter. Van ECK Associates Corp now owns 350,349 shares of the pipeline company's stock worth $16,313,000 after acquiring an additional 12,101 shares during the period. Finally, Ingalls & Snyder LLC grew its stake in shares of TC Energy by 92.7% in the 4th quarter. Ingalls & Snyder LLC now owns 21,665 shares of the pipeline company's stock valued at $1,008,000 after purchasing an additional 10,425 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on TRP. Royal Bank of Canada upped their price objective on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Citigroup assumed coverage on shares of TC Energy in a report on Friday, April 4th. They set a "neutral" rating for the company. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Cibc World Mkts upgraded TC Energy from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. Finally, CIBC raised 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 given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, TC Energy presently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Performance

Shares of TRP stock traded down $0.50 on Friday, hitting $49.54. 1,757,789 shares of the stock traded hands, compared to its average volume of 2,443,280. The company has a market capitalization of $51.50 billion, a PE ratio of 15.29, a PEG ratio of 4.34 and a beta of 0.78. The company's fifty day moving average is $49.34 and its 200 day moving average is $47.69. 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 1-year low of $37.07 and a 1-year high of $51.99.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.04). The business had revenue of $1.78 billion during 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 last year, the firm posted $1.02 earnings per share. On average, equities research analysts predict that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The business 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 dividend of $0.6142 per share. The ex-dividend date is Monday, June 30th. This represents a $2.46 annualized dividend and a yield of 4.96%. TC Energy's payout ratio is 81.52%.

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.