Versant Capital Management Inc Purchases 1,765 Shares of TC Energy Co. (NYSE:TRP)

Versant Capital Management Inc increased its holdings in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 248.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 2,475 shares of the pipeline company’s stock after buying an additional 1,765 shares during the period. Versant Capital Management Inc’s holdings in TC Energy were worth $117,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank purchased a new position in TC Energy in the fourth quarter worth $428,759,000. Mufg Securities Canada LTD. raised its stake in shares of TC Energy by 571.7% during the 4th quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company’s stock worth $288,043,000 after purchasing an additional 5,264,079 shares during the period. Blackstone Inc. boosted its holdings in shares of TC Energy by 83.8% in the 4th quarter. Blackstone Inc. now owns 7,637,469 shares of the pipeline company’s stock worth $355,371,000 after buying an additional 3,482,874 shares during the last quarter. FIL Ltd grew its position in TC Energy by 10.3% during the fourth quarter. FIL Ltd now owns 28,443,403 shares of the pipeline company’s stock valued at $1,325,558,000 after buying an additional 2,644,627 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in TC Energy during the fourth quarter valued at about $102,405,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on TRP. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday, February 3rd. Cibc World Mkts upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 2nd. Wall Street Zen cut shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Royal Bank of Canada increased their price objective on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, CIBC raised TC Energy from a “neutral” rating to a “sector outperform” rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

TC Energy Price Performance

Shares of NYSE:TRP opened at $51.39 on Tuesday. The company has a 50 day moving average of $48.89 and a 200 day moving average of $47.62. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56. TC Energy Co. has a 12 month low of $37.07 and a 12 month high of $51.46. The stock has a market cap of $53.43 billion, a P/E ratio of 15.86, a P/E/G ratio of 4.34 and a beta of 0.78.

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

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.6142 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend is Monday, June 30th. TC Energy’s dividend payout ratio (DPR) is presently 77.89%.

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.