191,428 Shares in TC Energy Co. (NYSE:TRP) Acquired by Pinnbrook Capital Management LP

Pinnbrook Capital Management LP bought a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) during the fourth quarter, HoldingsChannel.com reports. The firm bought 191,428 shares of the pipeline company’s stock, valued at approximately $8,907,000. TC Energy comprises 0.9% of Pinnbrook Capital Management LP’s portfolio, making the stock its 22nd biggest position.

Other large investors have also added to or reduced their stakes in the company. D.A. Davidson & CO. bought a new stake in shares of TC Energy during the 4th quarter valued at $297,000. CIBC Asset Management Inc increased its stake in TC Energy by 8.4% in the 4th quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company’s stock worth $331,863,000 after buying an additional 551,980 shares in the last quarter. NTV Asset Management LLC raised its holdings in TC Energy by 4.0% during the fourth quarter. NTV Asset Management LLC now owns 6,189 shares of the pipeline company’s stock valued at $288,000 after acquiring an additional 239 shares during the period. Catalyst Capital Advisors LLC lifted its position in shares of TC Energy by 7.2% in the fourth quarter. Catalyst Capital Advisors LLC now owns 325,543 shares of the pipeline company’s stock valued at $15,148,000 after acquiring an additional 22,000 shares in the last quarter. Finally, Americana Partners LLC bought a new position in shares of TC Energy in the fourth quarter worth about $3,576,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

TRP has been the topic of several recent analyst reports. TD Securities began coverage on TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. BMO Capital Markets boosted their target price on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. 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. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group raised their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $56.00.

TC Energy Price Performance

TRP stock opened at $46.05 on Tuesday. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37. The firm has a market capitalization of $47.85 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. The company has a fifty day simple moving average of $46.61 and a two-hundred day simple moving average of $46.58. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter last year, the firm earned $1.35 EPS. Analysts anticipate that TC Energy Co. will post 2.92 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 7.38%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is currently 63.43%.

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.