Royal Fund Management LLC Purchases 16,296 Shares of TC Energy Co. (NYSE:TRP)

Royal Fund Management LLC boosted its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 87.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,948 shares of the pipeline company’s stock after buying an additional 16,296 shares during the period. Royal Fund Management LLC’s holdings in TC Energy were worth $1,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. EdgeRock Capital LLC bought a new stake in shares of TC Energy during the 2nd quarter valued at about $25,000. Creekmur Asset Management LLC bought a new stake in TC Energy during the fourth quarter valued at approximately $27,000. Whittier Trust Co. of Nevada Inc. grew its stake in TC Energy by 138.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 738 shares of the pipeline company’s stock worth $28,000 after buying an additional 429 shares in the last quarter. Mather Group LLC. bought a new position in shares of TC Energy in the 2nd quarter worth $33,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of TC Energy during the 2nd quarter valued at $51,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Trading Down 0.4 %

Shares of NYSE:TRP traded down $0.16 on Wednesday, reaching $44.53. 76,964 shares of the company traded hands, compared to its average volume of 2,944,065. The stock has a market capitalization of $46.21 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 3.66 and a beta of 0.81. The business’s 50-day simple moving average is $45.28 and its 200 day simple moving average is $40.87. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.57. TC Energy Co. has a 52 week low of $33.47 and a 52 week high of $48.42.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.29. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the company earned $0.71 EPS. As a group, equities analysts anticipate that TC Energy Co. will post 3.08 EPS for the current fiscal year.

TC Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a $0.702 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date is Friday, September 27th. TC Energy’s dividend payout ratio (DPR) is presently 146.91%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. StockNews.com assumed coverage on TC Energy in a research report on Saturday. They set a “hold” rating on the stock. Finally, Barclays raised TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, TC Energy has a consensus rating of “Hold” and an average target price of $43.50.

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.