TC Energy Co. (NYSE:TRP) Stake Increased by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 61.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,660 shares of the pipeline company’s stock after acquiring 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.

Other large investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in shares of TC Energy in the 3rd quarter valued at about $28,000. Blue Trust Inc. increased its holdings 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 buying an additional 267 shares during the last quarter. Versant Capital Management Inc acquired a new stake in TC Energy during the fourth quarter valued at approximately $33,000. Point72 DIFC Ltd bought a new position in TC Energy during the 3rd quarter worth approximately $39,000. Finally, UMB Bank n.a. acquired a new position in shares of TC Energy in the 4th quarter worth approximately $47,000. 83.13% of the stock is currently owned by institutional investors.

TC Energy Trading Up 0.9 %

Shares of NYSE:TRP opened at $47.09 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.31 and a debt-to-equity ratio of 1.78. The company’s 50-day moving average price is $46.88 and its 200 day moving average price is $46.29. The company has a market cap of $48.93 billion, a PE ratio of 13.05, a P/E/G ratio of 4.31 and a beta of 0.81. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.83 billion. Sell-side analysts anticipate that TC Energy Co. will post 2.95 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on TRP. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research report on Friday, October 25th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a research report on Monday. TD Securities assumed coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a “buy” rating for the company. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. Finally, BMO Capital Markets lifted their target price on TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.00.

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.