14,796 Shares in TC Energy Co. (NYSE:TRP) Acquired by &Partners

&Partners purchased a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 14,796 shares of the pipeline company’s stock, valued at approximately $561,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TRP. International Assets Investment Management LLC purchased a new position in TC Energy during the 4th quarter worth $2,050,000. Cerity Partners LLC purchased a new position in shares of TC Energy in the fourth quarter worth about $456,000. CWM LLC raised its holdings in TC Energy by 56.2% during the 4th quarter. CWM LLC now owns 2,725 shares of the pipeline company’s stock valued at $107,000 after acquiring an additional 980 shares during the period. Parkside Financial Bank & Trust bought a new stake in shares of TC Energy during the 4th quarter valued at $74,000. Finally, Stevens Capital Management LP purchased a new stake in shares of TC Energy in the fourth quarter worth about $240,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Up 1.3 %

Shares of TRP stock opened at $45.06 on Friday. The firm’s 50 day moving average is $40.86 and its 200 day moving average is $39.36. The stock has a market capitalization of $45.06 billion, a P/E ratio of 23.23, a P/E/G ratio of 3.66 and a beta of 0.79. TC Energy Co. has a 12-month low of $32.51 and a 12-month high of $45.18. 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 (NYSE:TRP) (TSE:TRP) last released its 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 net margin of 21.31% and a return on equity of 16.97%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same period in the prior year, the firm posted $0.71 EPS. Research analysts expect that TC Energy Co. will post 3.04 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a $0.702 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.81 annualized dividend and a yield of 6.23%. TC Energy’s dividend payout ratio is currently 143.30%.

Analyst Ratings Changes

Separately, Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.67.

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.