Greenline Partners LLC Grows Position in TC Energy Co. (NYSE:TRP)

Greenline Partners LLC boosted its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 301,225 shares of the pipeline company’s stock after purchasing an additional 4,363 shares during the period. TC Energy makes up approximately 2.0% of Greenline Partners LLC’s investment portfolio, making the stock its 12th biggest holding. Greenline Partners LLC’s holdings in TC Energy were worth $14,016,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. SBI Securities Co. Ltd. purchased a new position in TC Energy during the 4th quarter valued at $31,000. Synergy Investment Management LLC bought a new position in shares of TC Energy in the fourth quarter worth about $36,000. Millstone Evans Group LLC purchased a new position in TC Energy in the 4th quarter worth about $41,000. First Command Advisory Services Inc. bought a new stake in TC Energy during the 4th quarter valued at about $46,000. Finally, Rogco LP boosted its position in TC Energy by 100.0% in 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 during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TRP shares. StockNews.com lowered shares of TC Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Royal Bank of Canada lifted their target price on TC Energy from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Finally, Citigroup started coverage on shares of TC Energy in a report on Friday, April 4th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on 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 Up 0.7 %

Shares of TC Energy stock opened at $49.35 on Friday. TC Energy Co. has a 52-week low of $37.07 and a 52-week high of $51.34. The firm’s 50 day moving average price is $48.12 and its 200-day moving average price is $47.39. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The company has a market cap of $51.31 billion, a P/E ratio of 15.23, a PEG ratio of 4.34 and a beta of 0.78.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) 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 firm had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the prior year, the firm posted $1.02 earnings per share. On average, sell-side analysts predict that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.6142 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.98%. 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.