Royal Fund Management LLC Buys 1,109 Shares of TC Energy Co. (NYSE:TRP)

Royal Fund Management LLC grew its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 6.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 19,692 shares of the pipeline company’s stock after acquiring an additional 1,109 shares during the quarter. Royal Fund Management LLC’s holdings in TC Energy were worth $792,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Invesco Ltd. raised its position in shares of TC Energy by 11.4% during the third quarter. Invesco Ltd. now owns 2,723,651 shares of the pipeline company’s stock worth $93,721,000 after purchasing an additional 279,712 shares during the period. Rathbones Group PLC acquired a new stake in shares of TC Energy during the third quarter worth about $514,000. LPL Financial LLC raised its position in shares of TC Energy by 1.8% during the third quarter. LPL Financial LLC now owns 974,711 shares of the pipeline company’s stock worth $33,540,000 after purchasing an additional 17,114 shares during the period. Stifel Financial Corp raised its position in shares of TC Energy by 4.9% during the third quarter. Stifel Financial Corp now owns 354,345 shares of the pipeline company’s stock worth $12,193,000 after purchasing an additional 16,641 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of TC Energy by 39.9% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 11,430 shares of the pipeline company’s stock worth $393,000 after purchasing an additional 3,258 shares during the period. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of NYSE TRP traded up $0.60 during midday trading on Monday, hitting $39.09. 151,575 shares of the company’s stock were exchanged, compared to its average volume of 2,944,292. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.64. TC Energy Co. has a 12 month low of $32.51 and a 12 month high of $41.03. The company’s 50 day moving average price is $37.78 and its 200 day moving average price is $38.75. The firm has a market capitalization of $39.09 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 3.18 and a beta of 0.79.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its earnings results on Friday, May 3rd. The pipeline company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. TC Energy had a return on equity of 17.94% and a net margin of 17.23%. The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.12 billion. As a group, analysts predict that TC Energy Co. will post 3 earnings per share for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.84 annualized dividend and a dividend yield of 7.27%. TC Energy’s dividend payout ratio is currently 145.88%.

Analyst Upgrades and Downgrades

TRP has been the topic of a number of research analyst reports. TheStreet raised TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Jefferies Financial Group began coverage on TC Energy in a research report on Tuesday, February 27th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $48.83.

About TC Energy

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.