TC Energy Co. (NYSE:TRP) Shares Bought by Cinctive Capital Management LP

Cinctive Capital Management LP increased its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 12.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 194,133 shares of the pipeline company's stock after acquiring an additional 21,243 shares during the period. Cinctive Capital Management LP's holdings in TC Energy were worth $9,042,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new stake in TC Energy in the fourth quarter valued at approximately $31,000. Versant Capital Management Inc purchased a new position in shares of TC Energy during the 4th quarter valued at approximately $33,000. Synergy Investment Management LLC acquired a new stake in TC Energy in the 4th quarter valued at $36,000. Point72 DIFC Ltd purchased a new stake in TC Energy in the 3rd quarter worth $39,000. Finally, Millstone Evans Group LLC acquired a new position in TC Energy during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Royal Bank of Canada lifted their price objective on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. StockNews.com cut TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. TD Securities assumed coverage on TC Energy in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. Finally, US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $62.00.

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TC Energy Price Performance

Shares of NYSE:TRP traded down $2.65 during midday trading on Friday, hitting $46.07. The company had a trading volume of 6,088,531 shares, compared to its average volume of 2,645,226. TC Energy Co. has a twelve month low of $34.95 and a twelve month high of $50.37. The stock has a market cap of $47.88 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 4.34 and a beta of 0.74. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23. The business's 50-day simple moving average is $46.57 and its 200-day simple moving average is $46.99.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.51 by $0.54. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter in the previous year, the firm earned $1.35 EPS. On average, research analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 7.38%. 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 payout ratio is presently 72.53%.

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.