TC Energy Co. (NYSE:TRP) Shares Acquired by Royal Fund Management LLC

Royal Fund Management LLC lifted its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,583 shares of the pipeline company’s stock after purchasing an additional 1,029 shares during the period. Royal Fund Management LLC’s holdings in TC Energy were worth $727,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TRP. EverSource Wealth Advisors LLC increased its holdings in TC Energy by 14.2% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,315 shares of the pipeline company’s stock valued at $80,000 after purchasing an additional 288 shares in the last quarter. AdvisorNet Financial Inc boosted its position in TC Energy by 25.8% in the 4th quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock valued at $58,000 after buying an additional 304 shares during the last quarter. Wealth Alliance boosted its position in TC Energy by 1.4% in the 4th quarter. Wealth Alliance now owns 22,531 shares of the pipeline company’s stock valued at $881,000 after buying an additional 304 shares during the last quarter. Atria Investments Inc boosted its position in TC Energy by 0.7% in the 3rd quarter. Atria Investments Inc now owns 46,620 shares of the pipeline company’s stock valued at $1,604,000 after buying an additional 317 shares during the last quarter. Finally, Ingalls & Snyder LLC lifted its position in shares of TC Energy by 5.8% during the third quarter. Ingalls & Snyder LLC now owns 9,150 shares of the pipeline company’s stock worth $315,000 after purchasing an additional 500 shares during the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Performance

Shares of NYSE:TRP traded up $1.21 during trading hours on Friday, hitting $37.62. The stock had a trading volume of 3,893,017 shares, compared to its average volume of 4,264,774. The stock’s fifty day simple moving average is $38.49 and its 200 day simple moving average is $38.09. TC Energy Co. has a 1-year low of $32.51 and a 1-year high of $42.49. The firm has a market capitalization of $37.62 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 3.14 and a beta of 0.76. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.88 and a current ratio of 0.96.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.79 by $0.20. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.93 billion. Sell-side analysts anticipate that TC Energy Co. will post 2.9 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 annualized dividend and a dividend yield of 7.55%. TC Energy’s payout ratio is currently 139.41%.

Analyst Ratings Changes

Several equities analysts have recently commented on TRP shares. TheStreet raised shares of TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Stifel Nicolaus started coverage on shares of TC Energy in a research report on Thursday, January 18th. They set a “buy” rating on the stock. Jefferies Financial Group started coverage on shares of TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating on the stock. Barclays raised their target price on shares of TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Finally, The Goldman Sachs Group raised their target price on shares of TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.83.

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.