Pinnbrook Capital Management LP Invests $8.91 Million in TC Energy Co. (NYSE:TRP)

Pinnbrook Capital Management LP bought a new position in TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 191,428 shares of the pipeline company’s stock, valued at approximately $8,907,000. TC Energy accounts for about 0.9% of Pinnbrook Capital Management LP’s holdings, making the stock its 22nd biggest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Planning raised its position in TC Energy by 4.1% during the 3rd quarter. Creative Planning now owns 46,779 shares of the pipeline company’s stock valued at $2,224,000 after purchasing an additional 1,829 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of TC Energy by 72.0% during the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 267 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in TC Energy by 26.0% in the third quarter. Sequoia Financial Advisors LLC now owns 9,651 shares of the pipeline company’s stock worth $459,000 after acquiring an additional 1,993 shares during the period. Signaturefd LLC boosted its holdings in TC Energy by 15.6% in the third quarter. Signaturefd LLC now owns 18,929 shares of the pipeline company’s stock valued at $900,000 after acquiring an additional 2,556 shares in the last quarter. Finally, Eastern Bank purchased a new position in TC Energy during the 3rd quarter valued at $166,000. 83.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. StockNews.com initiated coverage on shares of TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating for the company. The Goldman Sachs Group lifted their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research report on Monday, October 21st. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. TD Securities initiated coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, BMO Capital Markets upped their price target on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.00.

TC Energy Stock Down 2.8 %

TRP stock opened at $46.05 on Tuesday. The business has a 50 day moving average of $46.61 and a 200 day moving average of $46.58. The firm has a market cap of $47.85 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. During the same period last year, the business earned $1.35 EPS. On average, research analysts forecast that TC Energy Co. will post 2.92 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.85 dividend. This is a boost from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a yield of 7.38%. TC Energy’s dividend payout ratio is 63.43%.

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.