417,522 Shares in TC Energy Co. (NYSE:TRP) Acquired by Moore Capital Management LP

Moore Capital Management LP acquired a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 417,522 shares of the pipeline company’s stock, valued at approximately $19,427,000.

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of TC Energy during the fourth quarter valued at about $31,000. Synergy Investment Management LLC bought a new position in TC Energy during the 4th quarter valued at approximately $36,000. Millstone Evans Group LLC purchased a new stake in TC Energy in the 4th quarter worth approximately $41,000. First Command Advisory Services Inc. bought a new stake in shares of TC Energy in the 4th quarter worth approximately $46,000. Finally, Rogco LP raised its holdings in shares of TC Energy by 100.0% during the fourth quarter. Rogco LP now owns 1,000 shares of the pipeline company’s stock valued at $47,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TRP. Veritas raised TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Royal Bank of Canada upped their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Citigroup assumed coverage on shares of TC Energy in a research report on Friday, April 4th. They set a “neutral” rating for the company. TD Securities initiated coverage on shares of TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Cibc World Mkts upgraded TC Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $62.00.

TC Energy Stock Up 0.7%

TRP opened at $49.35 on Monday. The firm’s 50 day simple moving average is $48.12 and its two-hundred day simple moving average is $47.40. The company has a market capitalization of $51.31 billion, a PE ratio of 15.23, a PEG ratio of 4.34 and a beta of 0.78. TC Energy Co. has a 1-year low of $37.07 and a 1-year high of $51.34. 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) (TSE:TRP) last announced its quarterly earnings data on Thursday, May 1st. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.04). TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the firm posted $1.02 earnings per share. As a group, equities analysts forecast that TC Energy Co. will post 2.63 EPS for the current year.

TC Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.6142 dividend. This represents a $2.46 annualized dividend and a yield of 4.98%. The ex-dividend date is Monday, June 30th. TC Energy’s dividend payout ratio is currently 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.