PFG Investments LLC Buys Shares of 5,016 TC Energy Co. (NYSE:TRP)

PFG Investments LLC purchased a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,016 shares of the pipeline company’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC acquired a new position in TC Energy during the 1st quarter worth about $1,159,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in TC Energy by 15.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,109,055 shares of the pipeline company’s stock valued at $81,599,000 after purchasing an additional 278,886 shares during the period. M&G Plc acquired a new position in TC Energy during the 1st quarter worth $111,587,000. Cetera Investment Advisers increased its holdings in TC Energy by 74.1% during the 1st quarter. Cetera Investment Advisers now owns 98,729 shares of the pipeline company’s stock worth $3,972,000 after purchasing an additional 42,024 shares during the period. Finally, Headlands Technologies LLC raised its position in TC Energy by 49,890.3% in the 1st quarter. Headlands Technologies LLC now owns 15,497 shares of the pipeline company’s stock valued at $623,000 after purchasing an additional 15,466 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Price Performance

Shares of NYSE:TRP opened at $46.47 on Thursday. TC Energy Co. has a 12 month low of $31.04 and a 12 month high of $48.25. The firm has a market capitalization of $48.22 billion, a P/E ratio of 19.04, a P/E/G ratio of 3.91 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.76 and a quick ratio of 0.68. The company’s fifty day moving average price is $46.32 and its 200 day moving average price is $41.73.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Thursday, August 1st. The pipeline company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.29. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.78 billion. TC Energy had a return on equity of 16.97% and a net margin of 21.31%. During the same quarter in the previous year, the firm earned $0.71 earnings per share. As a group, sell-side analysts predict that TC Energy Co. will post 3.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays upgraded shares of TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group boosted their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. StockNews.com assumed coverage on TC Energy in a research note on Saturday, October 5th. They issued a “hold” rating on the stock. Finally, UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $48.50.

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.