Birch Capital Management LLC Raises Stock Holdings in TC Energy Co. (NYSE:TRP)


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Birch Capital Management LLC grew its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 11.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,193 shares of the pipeline company’s stock after acquiring an additional 1,271 shares during the quarter. Birch Capital Management LLC’s holdings in TC Energy were worth $558,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Capital Asset Advisory Services LLC purchased a new stake in shares of TC Energy in the fourth quarter valued at $26,000. Reby Advisors LLC acquired a new position in TC Energy in the fourth quarter valued at $30,000. Liberty Wealth Management LLC increased its stake in TC Energy by 48.7% in the fourth quarter. Liberty Wealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 246 shares during the last quarter. Valley Brook Capital Group acquired a new position in TC Energy in the fourth quarter valued at $40,000. Finally, Accel Wealth Management acquired a new position in TC Energy in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 64.75% of the company’s stock.

Several equities analysts recently commented on TRP shares. CIBC upped their target price on TC Energy from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, February 19th. TD Securities dropped their price target on TC Energy from $75.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, February 19th. Barclays lowered TC Energy from an “overweight” rating to an “equal weight” rating and set a $62.00 price target for the company. in a research note on Tuesday, January 12th. Stifel Nicolaus dropped their price target on TC Energy from $73.00 to $66.00 and set a “buy” rating for the company in a research note on Tuesday, January 19th. Finally, BMO Capital Markets upgraded TC Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 20th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $66.65.

NYSE:TRP traded down $0.13 during trading hours on Thursday, reaching $47.03. 34,177 shares of the stock were exchanged, compared to its average volume of 2,728,919. The company has a quick ratio of 0.46, a current ratio of 0.51 and a debt-to-equity ratio of 1.53. The firm has a 50 day simple moving average of $45.53 and a 200-day simple moving average of $43.58. TC Energy Co. has a 52 week low of $38.80 and a 52 week high of $49.95. The stock has a market capitalization of $46.00 billion, a P/E ratio of 13.44, a P/E/G ratio of 3.23 and a beta of 0.71.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Wednesday, February 17th. The pipeline company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.37. The business had revenue of $2.53 billion for the quarter. TC Energy had a return on equity of 13.26% and a net margin of 34.82%. As a group, analysts expect that TC Energy Co. will post 3.12 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Investors of record on Wednesday, March 31st will be issued a $0.6852 dividend. This is an increase from TC Energy’s previous quarterly dividend of $0.61. The ex-dividend date is Tuesday, March 30th. This represents a $2.74 annualized dividend and a dividend yield of 5.83%. TC Energy’s dividend payout ratio (DPR) is 81.41%.

TC Energy Profile

TC Energy Corporation engages in the provision of energy infrastructure services. It operates through the following business segments: Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, Power and Storage, and Corporate. The Canadian Natural Gas Pipelines segment consists of regulated natural gas pipelines.

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Institutional Ownership by Quarter for TC Energy (NYSE:TRP)

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