TC Energy Co. (NYSE:TRP) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC boosted its position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,301 shares of the pipeline company’s stock after purchasing an additional 2,763 shares during the period. Bleakley Financial Group LLC’s holdings in TC Energy were worth $2,480,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its holdings in TC Energy by 1.3% in the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after acquiring an additional 242 shares during the period. Prospera Financial Services Inc increased its holdings in shares of TC Energy by 4.8% during the 3rd quarter. Prospera Financial Services Inc now owns 5,754 shares of the pipeline company’s stock worth $274,000 after purchasing an additional 262 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of TC Energy by 8.1% during the 3rd quarter. First Horizon Advisors Inc. now owns 3,505 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 264 shares during the period. Blue Trust Inc. increased its stake in TC Energy by 72.0% in 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 during the period. Finally, Cohen Investment Advisors LLC increased its stake in TC Energy by 2.9% in the fourth quarter. Cohen Investment Advisors LLC now owns 9,831 shares of the pipeline company’s stock valued at $457,000 after acquiring an additional 279 shares during the period. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TRP has been the topic of a number of analyst reports. BMO Capital Markets upped their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. StockNews.com began coverage on shares of TC Energy in a research report on Wednesday, December 4th. They set a “hold” rating on the stock. Morgan Stanley upgraded shares of TC Energy from an “underweight” rating to an “overweight” rating in a report on Friday, October 25th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research note on Monday. Finally, TD Securities began coverage on shares of TC Energy in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $56.00.

TC Energy Stock Performance

Shares of TRP opened at $46.98 on Friday. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37. The firm has a fifty day simple moving average of $46.85 and a 200 day simple moving average of $46.29. The stock has a market capitalization of $48.81 billion, a price-to-earnings ratio of 13.01, 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.

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

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.