Value Partners Investments Inc. Purchases Shares of 5,253 TC Energy Co. (NYSE:TRP)

Value Partners Investments Inc. acquired a new position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,253 shares of the pipeline company's stock, valued at approximately $245,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of TC Energy during the 4th quarter worth about $428,759,000. Mufg Securities Canada LTD. boosted its stake in shares of TC Energy by 571.7% in the fourth quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company's stock worth $288,043,000 after acquiring an additional 5,264,079 shares during the last quarter. Blackstone Inc. increased its position in shares of TC Energy by 83.8% during the fourth quarter. Blackstone Inc. now owns 7,637,469 shares of the pipeline company's stock worth $355,371,000 after purchasing an additional 3,482,874 shares in the last quarter. FIL Ltd lifted its position in TC Energy by 10.3% during the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company's stock worth $1,325,558,000 after buying an additional 2,644,627 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of TC Energy in the fourth quarter valued at approximately $102,405,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

TRP stock traded up $0.50 during midday trading on Friday, hitting $50.35. The stock had a trading volume of 631,608 shares, compared to its average volume of 2,485,012. The stock has a 50-day simple moving average of $48.80 and a 200 day simple moving average of $47.61. The firm has a market capitalization of $52.35 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 4.34 and a beta of 0.78. TC Energy Co. has a 52 week low of $37.07 and a 52 week high of $51.34. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings data 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). The company 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 prior year, the company posted $1.02 earnings per share. As a group, equities research analysts anticipate that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The firm 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 of this dividend is Monday, June 30th. This represents a $2.46 annualized dividend and a yield of 4.88%. TC Energy's dividend payout ratio (DPR) is presently 77.89%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TRP. 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. CIBC upgraded shares of TC Energy from a "neutral" rating to a "sector outperform" rating in a research report on Friday, May 2nd. Royal Bank of Canada upped their price target on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Wall Street Zen downgraded TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Citigroup initiated coverage on shares of TC Energy in a report on Friday, April 4th. They set a "neutral" rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

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.