TC Energy Co. (NYSE:TRP) Shares Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. increased its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 309.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,955,983 shares of the pipeline company's stock after acquiring an additional 1,478,167 shares during the period. Balyasny Asset Management L.P. owned approximately 0.19% of TC Energy worth $91,059,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in shares of TC Energy in the fourth quarter valued at $31,000. Versant Capital Management Inc acquired a new stake in TC Energy in the 4th quarter valued at about $33,000. Synergy Investment Management LLC purchased a new position in TC Energy during the 4th quarter valued at about $36,000. Millstone Evans Group LLC purchased a new stake in shares of TC Energy in the fourth quarter valued at about $41,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of TC Energy in the fourth quarter valued at approximately $46,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TRP. Royal Bank of Canada upped their target price on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Citigroup assumed coverage on TC Energy in a research note on Friday, April 4th. They set a "neutral" rating on the stock. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. TD Securities started coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, StockNews.com lowered shares of TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, TC Energy has a consensus rating of "Moderate Buy" and an average price target of $62.00.

TC Energy Price Performance

TC Energy stock opened at $50.95 on Monday. 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 has a market cap of $52.97 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 4.34 and a beta of 0.78. TC Energy Co. has a 1 year low of $37.07 and a 1 year high of $51.25. The firm has a 50 day moving average price of $47.57 and a 200 day moving average price of $47.30.

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 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 analysts' expectations of $2.57 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period last year, the business posted $1.02 earnings per share. Sell-side 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 announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.6142 per share. This represents a $2.46 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Monday, June 30th. TC Energy's dividend payout ratio (DPR) 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.

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