Stevens Capital Management LP Invests $240,000 in TC Energy Co. (NYSE:TRP)

Stevens Capital Management LP acquired a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,148 shares of the pipeline company’s stock, valued at approximately $240,000.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of TC Energy by 29,994.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 309,376 shares of the pipeline company’s stock valued at $12,094,000 after purchasing an additional 308,348 shares during the period. Addenda Capital Inc. boosted its stake in TC Energy by 2.5% during the fourth quarter. Addenda Capital Inc. now owns 1,089,146 shares of the pipeline company’s stock worth $42,575,000 after buying an additional 26,711 shares during the period. Morgan Stanley boosted its stake in TC Energy by 42.5% during the third quarter. Morgan Stanley now owns 6,821,231 shares of the pipeline company’s stock worth $234,719,000 after buying an additional 2,034,846 shares during the period. Mondrian Investment Partners LTD boosted its stake in TC Energy by 9.3% during the third quarter. Mondrian Investment Partners LTD now owns 7,231,694 shares of the pipeline company’s stock worth $248,843,000 after buying an additional 618,040 shares during the period. Finally, Van ECK Associates Corp boosted its stake in TC Energy by 6.5% during the third quarter. Van ECK Associates Corp now owns 296,979 shares of the pipeline company’s stock worth $10,218,000 after buying an additional 18,213 shares during the period. Hedge funds and other institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

Shares of TRP traded down $0.02 during mid-day trading on Friday, reaching $36.07. 2,934,696 shares of the company’s stock were exchanged, compared to its average volume of 3,033,185. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.96 and a quick ratio of 0.88. The stock has a market capitalization of $36.07 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 3.11 and a beta of 0.75. The business’s fifty day simple moving average is $38.90 and its 200-day simple moving average is $38.03. TC Energy Co. has a 52-week low of $32.51 and a 52-week high of $42.49.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its 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 for the quarter, compared to analyst estimates of $2.93 billion. TC Energy had a net margin of 18.25% and a return on equity of 18.60%. On average, equities research analysts expect that TC Energy Co. will post 2.89 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.714 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 7.92%. This is a positive change from TC Energy’s previous quarterly dividend of $0.67. The ex-dividend date is Wednesday, March 27th. TC Energy’s dividend payout ratio (DPR) is 139.41%.

Analyst Upgrades and Downgrades

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

TC Energy 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.