Virtu Financial LLC Invests $811,000 in TC Energy Co. (NYSE:TRP)

Virtu Financial LLC purchased a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) in the fourth quarter, HoldingsChannel reports. The firm purchased 20,752 shares of the pipeline company’s stock, valued at approximately $811,000.

A number of other hedge funds have also modified their holdings of the company. Sunpointe LLC acquired a new stake in TC Energy in the fourth quarter worth $235,000. FIL Ltd raised its stake in TC Energy by 37.2% during the 4th quarter. FIL Ltd now owns 16,706,812 shares of the pipeline company’s stock worth $652,613,000 after buying an additional 4,528,555 shares during the period. Clear Street Markets LLC bought a new position in TC Energy during the fourth quarter worth about $454,000. Cohen & Steers Inc. grew its stake in TC Energy by 41.0% in the fourth quarter. Cohen & Steers Inc. now owns 89,924 shares of the pipeline company’s stock valued at $3,515,000 after acquiring an additional 26,132 shares during the period. Finally, K2 Principal Fund L.P. bought a new stake in shares of TC Energy in the fourth quarter worth about $3,127,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Stock Down 0.5 %

Shares of TRP stock traded down $0.19 during trading on Friday, reaching $38.75. The company’s stock had a trading volume of 1,394,236 shares, compared to its average volume of 2,808,084. TC Energy Co. has a one year low of $32.51 and a one year high of $41.50. The business has a fifty day moving average price of $37.69 and a 200-day moving average price of $38.73. The company has a market cap of $38.75 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 3.23 and a beta of 0.79. The company has a quick ratio of 0.85, a current ratio of 0.94 and a debt-to-equity ratio of 1.64.

TC Energy (NYSE:TRP) (TSE:TRP) last issued its quarterly earnings results on Friday, May 3rd. The pipeline company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.83 by $0.09. The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.12 billion. TC Energy had a net margin of 17.23% and a return on equity of 17.94%. Analysts anticipate that TC Energy Co. will post 3 earnings per share for the current year.

TC Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 7.33%. The ex-dividend date is Friday, June 28th. TC Energy’s dividend payout ratio (DPR) is 145.88%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. TheStreet upgraded TC Energy from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. Jefferies Financial Group started coverage on shares of TC Energy in a report on Tuesday, February 27th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $48.83.

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.