Pinnbrook Capital Management LP Acquires Shares of 191,428 TC Energy Co. (NYSE:TRP)

Pinnbrook Capital Management LP purchased a new position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 191,428 shares of the pipeline company's stock, valued at approximately $8,907,000. TC Energy makes up approximately 0.9% of Pinnbrook Capital Management LP's portfolio, making the stock its 22nd largest holding.

A number of other hedge funds have also recently made changes to their positions in the stock. Fortitude Family Office LLC acquired a new stake in TC Energy in the third quarter valued at approximately $28,000. Blue Trust Inc. lifted its holdings in shares of 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 during the last quarter. Versant Capital Management Inc acquired a new stake in shares of TC Energy in the 4th quarter worth $33,000. Point72 DIFC Ltd purchased a new position in TC Energy during the 3rd quarter worth $39,000. Finally, Rogco LP increased its position in TC Energy by 100.0% during the 4th quarter. Rogco LP now owns 1,000 shares of the pipeline company's stock valued at $47,000 after buying an additional 500 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on TRP. Morgan Stanley raised TC Energy from an "underweight" rating to an "overweight" rating in a report on Friday, October 25th. Royal Bank of Canada increased their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research report on Tuesday. StockNews.com raised shares of TC Energy from a "hold" rating to a "buy" rating in a research report on Wednesday. TD Securities initiated coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a "buy" rating for the company. Finally, Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Stock Performance

NYSE TRP traded down $0.60 on Friday, hitting $44.94. 2,068,058 shares of the company's stock traded hands, compared to its average volume of 2,106,917. The firm has a market capitalization of $46.70 billion, a PE ratio of 13.87, a P/E/G ratio of 4.37 and a beta of 0.81. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The firm's 50-day moving average price is $46.48 and its two-hundred day moving average price is $46.63. 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 (NYSE:TRP - Get Free Report) TSE: TRP last posted its earnings results 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. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same period in the previous year, the firm posted $1.35 earnings per share. As a group, analysts expect that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 7.57%. This is a positive change from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 31st. TC Energy's dividend payout ratio (DPR) is 71.91%.

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.