Twinbeech Capital LP Takes $558,000 Position in TC Energy Co. (NYSE:TRP)

Twinbeech Capital LP acquired a new stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,988 shares of the pipeline company’s stock, valued at approximately $558,000.

Other hedge funds have also made changes to their positions in the company. BROOKFIELD Corp ON increased its holdings in shares of TC Energy by 31.6% during the 4th quarter. BROOKFIELD Corp ON now owns 1,890,168 shares of the pipeline company’s stock valued at $87,950,000 after acquiring an additional 454,011 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of TC Energy by 7.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 224,829 shares of the pipeline company’s stock valued at $10,463,000 after acquiring an additional 16,334 shares during the last quarter. AXA S.A. increased its holdings in shares of TC Energy by 28.4% during the 4th quarter. AXA S.A. now owns 142,095 shares of the pipeline company’s stock valued at $6,612,000 after acquiring an additional 31,441 shares during the last quarter. Cinctive Capital Management LP increased its holdings in shares of TC Energy by 12.3% during the 4th quarter. Cinctive Capital Management LP now owns 194,133 shares of the pipeline company’s stock valued at $9,042,000 after acquiring an additional 21,243 shares during the last quarter. Finally, Guardian Partners Inc. acquired a new position in shares of TC Energy during the 4th quarter valued at about $8,614,000. 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 research analyst reports. CIBC raised TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Friday, May 2nd. Royal Bank of Canada raised their target price on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Cibc World Mkts raised TC Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, May 2nd. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Finally, US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, TC Energy has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Price Performance

Shares of NYSE:TRP opened at $49.52 on Friday. TC Energy Co. has a 1-year low of $37.07 and a 1-year high of $51.34. The firm has a market capitalization of $51.49 billion, a PE ratio of 15.28, a PEG ratio of 4.34 and a beta of 0.78. The business’s 50 day moving average is $48.64 and its 200-day moving average is $47.56. 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) (TSE:TRP) last announced 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). TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the business posted $1.02 EPS. Sell-side analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.6142 per share. This represents a $2.46 annualized dividend and a dividend yield of 4.96%. The ex-dividend date is Monday, June 30th. TC Energy’s payout ratio is presently 77.89%.

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.