Corps Capital Advisors LLC Acquires Shares of 11,143 TC Energy Co. (NYSE:TRP)

Corps Capital Advisors LLC acquired a new stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the fourth quarter, HoldingsChannel reports. The fund acquired 11,143 shares of the pipeline company’s stock, valued at approximately $518,000.

A number of other hedge funds have also recently bought and sold shares of TRP. Fortitude Family Office LLC acquired a new stake in TC Energy during the 3rd quarter valued at approximately $28,000. Blue Trust Inc. grew 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 purchasing an additional 267 shares in the last quarter. Versant Capital Management Inc acquired a new stake in TC Energy during the 4th quarter valued at approximately $33,000. Point72 DIFC Ltd acquired a new stake in TC Energy during the 3rd quarter valued at approximately $39,000. Finally, UMB Bank n.a. acquired a new stake in TC Energy during the 4th quarter valued at approximately $47,000. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Down 1.1 %

NYSE:TRP opened at $45.89 on Thursday. TC Energy Co. has a 12-month low of $31.83 and a 12-month high of $50.37. The firm has a market capitalization of $47.68 billion, a P/E ratio of 14.16, a P/E/G ratio of 4.43 and a beta of 0.81. 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 business has a 50 day simple moving average of $46.53 and a 200 day simple moving average of $46.62.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 11.95% and a net margin of 29.40%. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the firm posted $1.35 EPS. Equities research analysts predict that TC Energy Co. will post 2.62 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.85 per share. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 7.41%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is presently 70.68%.

Wall Street Analyst Weigh In

TRP has been the subject of several research reports. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. TD Securities initiated coverage on TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada lifted their target price on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, BMO Capital Markets lifted their target price on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, TC Energy currently has a consensus rating of “Hold” and a consensus price target of $62.00.

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.