TC Energy Co. (NYSE:TRP) Shares Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC raised its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 61.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,660 shares of the pipeline company’s stock after purchasing an additional 4,057 shares during the period. Tectonic Advisors LLC’s holdings in TC Energy were worth $496,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TRP. Addenda Capital Inc. increased its holdings in shares of TC Energy by 4.4% during the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company’s stock worth $48,135,000 after buying an additional 43,639 shares during the last quarter. Captrust Financial Advisors grew its position in TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock valued at $871,000 after acquiring an additional 242 shares during the period. Ritholtz Wealth Management increased its stake in TC Energy by 44.8% during the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company’s stock worth $1,115,000 after acquiring an additional 7,412 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of TC Energy in the 3rd quarter worth about $3,771,000. Finally, Harvest Portfolios Group Inc. lifted its stake in shares of TC Energy by 107.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after purchasing an additional 117,176 shares in the last quarter. Hedge funds and other institutional investors own 83.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TRP. Morgan Stanley raised shares of TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. TD Securities initiated coverage on shares of TC Energy in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday. The Goldman Sachs Group increased their price target on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. Finally, BMO Capital Markets raised their price objective on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, TC Energy has a consensus rating of “Hold” and an average target price of $56.00.

TC Energy Price Performance

TRP opened at $47.09 on Thursday. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37. The firm has a market cap of $48.93 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 4.31 and a beta of 0.81. The company has a current ratio of 1.31, a quick ratio of 1.23 and a debt-to-equity ratio of 1.78. The company has a fifty day simple moving average of $46.88 and a 200 day simple moving average of $46.29.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. Equities research analysts expect that TC Energy Co. will post 2.95 EPS for the current fiscal year.

About TC Energy

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.