Versant Capital Management Inc Makes New $33,000 Investment in TC Energy Co. (NYSE:TRP)

Versant Capital Management Inc bought a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 710 shares of the pipeline company’s stock, valued at approximately $33,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC purchased a new position in shares of TC Energy in the 3rd quarter valued at $28,000. Blue Trust Inc. boosted its stake in TC Energy by 72.0% during the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares during the last quarter. Point72 DIFC Ltd acquired a new position in TC Energy during the 3rd quarter worth $39,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of TC Energy in the 2nd quarter worth about $51,000. Finally, Farther Finance Advisors LLC raised its stake in shares of TC Energy by 215.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company’s stock valued at $57,000 after purchasing an additional 826 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Price Performance

Shares of NYSE TRP opened at $47.73 on Wednesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The firm has a market capitalization of $49.58 billion, a PE ratio of 13.22, a P/E/G ratio of 3.88 and a beta of 0.82. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The business’s fifty day moving average price is $47.70 and its two-hundred day moving average price is $45.19.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. On average, research analysts expect that TC Energy Co. will post 3 EPS for the current year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.822 dividend. This represents a $3.29 dividend on an annualized basis and a yield of 6.89%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio is 67.31%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. The Goldman Sachs Group lifted their price target on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. UBS Group raised TC Energy from a “neutral” rating to a “buy” rating in a research report on Monday, September 30th. StockNews.com assumed coverage on TC Energy in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $55.67.

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.