Cinctive Capital Management LP Boosts Holdings in TC Energy Co. (NYSE:TRP)

Cinctive Capital Management LP grew its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 12.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 194,133 shares of the pipeline company’s stock after buying an additional 21,243 shares during the quarter. Cinctive Capital Management LP’s holdings in TC Energy were worth $9,042,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans acquired a new position in shares of TC Energy in the 3rd quarter valued at $236,000. Cerity Partners LLC grew its position in TC Energy by 72.9% during the 3rd quarter. Cerity Partners LLC now owns 20,538 shares of the pipeline company’s stock worth $977,000 after purchasing an additional 8,660 shares during the last quarter. FMR LLC increased its position in TC Energy by 2,821.8% in the 3rd quarter. FMR LLC now owns 574,427 shares of the pipeline company’s stock valued at $27,311,000 after acquiring an additional 554,767 shares during the period. Captrust Financial Advisors raised its stake in TC Energy by 1.3% during the 3rd 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 last quarter. Finally, Erste Asset Management GmbH acquired a new stake in TC Energy during the 3rd quarter worth approximately $1,216,000. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Trading Up 1.3 %

Shares of TRP stock opened at $47.83 on Wednesday. The stock has a market cap of $49.71 billion, a P/E ratio of 14.76, a P/E/G ratio of 4.34 and a beta of 0.83. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. TC Energy Co. has a fifty-two week low of $34.95 and a fifty-two week high of $50.37. The business has a fifty day simple moving average of $46.54 and a 200-day simple moving average of $46.97.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period last year, the firm posted $1.35 EPS. On average, analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.

TC Energy Increases Dividend

The business 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 dividend of $0.85 per share. This is an increase from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 annualized dividend and a dividend yield of 7.11%. The ex-dividend date is Monday, March 31st. TC Energy’s payout ratio is currently 72.53%.

Wall Street Analyst Weigh In

TRP has been the topic of a number of analyst reports. Veritas upgraded shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. StockNews.com downgraded shares of TC Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Royal Bank of Canada raised their price objective on shares of TC Energy from $71.00 to $74.00 and gave the company an “outperform” 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 research report on Monday, February 3rd. Finally, TD Securities began coverage on TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, TC Energy presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

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.