Point72 Asset Management L.P. Has $48.57 Million Stock Position in TC Energy Co. (NYSE:TRP)

Point72 Asset Management L.P. cut its holdings in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 3.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,042,652 shares of the pipeline company’s stock after selling 33,884 shares during the quarter. Point72 Asset Management L.P. owned 0.10% of TC Energy worth $48,568,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC grew its holdings in shares of TC Energy by 19.9% during the 3rd quarter. Barclays PLC now owns 528,528 shares of the pipeline company’s stock worth $25,132,000 after purchasing an additional 87,885 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of TC Energy by 7.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,264 shares of the pipeline company’s stock worth $868,000 after purchasing an additional 1,231 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of TC Energy by 3.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 33,445 shares of the pipeline company’s stock worth $1,558,000 after purchasing an additional 1,133 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of TC Energy by 144.5% during the 4th quarter. Park Avenue Securities LLC now owns 18,275 shares of the pipeline company’s stock worth $851,000 after purchasing an additional 10,802 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. grew its holdings in shares of TC Energy by 21.4% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,921 shares of the pipeline company’s stock worth $91,000 after purchasing an additional 338 shares in the last quarter. 83.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

TRP has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price target on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. US Capital Advisors raised TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. StockNews.com cut TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. CIBC raised TC Energy from a “neutral” rating to a “sector outperform” rating in a report on Friday, May 2nd. Finally, Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $62.00.

TC Energy Trading Up 2.1%

NYSE TRP opened at $49.92 on Friday. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. TC Energy Co. has a twelve month low of $37.07 and a twelve month high of $51.34. The company has a market cap of $51.90 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 4.34 and a beta of 0.78. The business’s fifty day moving average is $48.36 and its 200 day moving average is $47.45.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.04). The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $2.57 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter last year, the business earned $1.02 EPS. As a group, sell-side analysts expect that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.6142 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a yield of 4.92%. TC Energy’s payout ratio is 77.89%.

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.