Royal Fund Management LLC Purchases 1,029 Shares of TC Energy Co. (NYSE:TRP)

Royal Fund Management LLC boosted its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,583 shares of the pipeline company’s stock after purchasing an additional 1,029 shares during the quarter. Royal Fund Management LLC’s holdings in TC Energy were worth $727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bruce G. Allen Investments LLC bought a new stake in shares of TC Energy during the 4th quarter valued at $26,000. Peoples Bank KS bought a new position in TC Energy in the 3rd quarter worth about $45,000. AdvisorNet Financial Inc boosted its stake in TC Energy by 25.8% in the 4th quarter. AdvisorNet Financial Inc now owns 1,483 shares of the pipeline company’s stock worth $58,000 after purchasing an additional 304 shares in the last quarter. Whittier Trust Co. boosted its stake in TC Energy by 1,500.0% in the 4th quarter. Whittier Trust Co. now owns 1,840 shares of the pipeline company’s stock worth $72,000 after purchasing an additional 1,725 shares in the last quarter. Finally, Parkside Financial Bank & Trust bought a new position in TC Energy in the 4th quarter worth about $74,000. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TRP shares. Jefferies Financial Group began coverage on shares of TC Energy in a research note on Tuesday, February 27th. They issued a “hold” rating on the stock. Stifel Nicolaus began coverage on TC Energy in a report on Thursday, January 18th. They set a “buy” rating on the stock. Barclays increased their target price on TC Energy from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. The Goldman Sachs Group increased their target price on TC Energy from $29.00 to $32.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. Finally, TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $48.83.

TC Energy Stock Up 3.3 %

Shares of TRP stock traded up $1.21 during trading hours on Friday, reaching $37.62. 3,893,017 shares of the company’s stock were exchanged, compared to its average volume of 4,264,774. The stock has a market cap of $37.62 billion, a PE ratio of 18.53, a PEG ratio of 3.14 and a beta of 0.76. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 1.65. The stock’s fifty day moving average price is $38.49 and its two-hundred day moving average price is $38.09. TC Energy Co. has a 1 year low of $32.51 and a 1 year high of $42.49.

TC Energy (NYSE:TRP) (TSE:TRP) last posted its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. The business had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. Research analysts predict that TC Energy Co. will post 2.9 EPS for the current year.

TC Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 7.55%. The ex-dividend date of this dividend is Friday, June 28th. TC Energy’s dividend payout ratio (DPR) is 139.41%.

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.