Rogco LP Raises Stake in TC Energy Co. (NYSE:TRP)

Rogco LP increased its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 100.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,000 shares of the pipeline company’s stock after buying an additional 500 shares during the period. Rogco LP’s holdings in TC Energy were worth $47,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in shares of TC Energy during the 3rd quarter worth approximately $28,000. Blue Trust Inc. increased its position in TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock worth $30,000 after buying an additional 267 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of TC Energy in the fourth quarter valued at $33,000. Point72 DIFC Ltd purchased a new position in shares of TC Energy during the 3rd quarter valued at $39,000. Finally, UMB Bank n.a. bought a new position in shares of TC Energy during the 4th quarter worth $47,000. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

TC Energy Trading Down 2.8 %

Shares of TRP stock opened at $46.05 on Monday. TC Energy Co. has a 52-week low of $31.83 and a 52-week high of $50.37. The business’s fifty day moving average is $46.61 and its 200 day moving average is $46.55. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.23 and a current ratio of 1.31. The company has a market capitalization of $47.85 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 4.45 and a beta of 0.81.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly 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. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.42 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. During the same quarter last year, the firm posted $1.35 EPS. On average, equities research analysts anticipate that TC Energy Co. will post 2.92 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.85 dividend. This is a positive change from TC Energy’s previous quarterly dividend of $0.82. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.38%. TC Energy’s dividend payout ratio is presently 63.43%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TRP. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. The Goldman Sachs Group raised their price objective on shares of TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a report on Monday, October 21st. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. BMO Capital Markets raised their price target on TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, November 20th. Finally, TD Securities initiated coverage on TC Energy in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.00.

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.