Caprock Group LLC Takes Position in TC Energy Co. (NYSE:TRP)

Caprock Group LLC bought a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 5,266 shares of the pipeline company’s stock, valued at approximately $245,000.

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

TC Energy Trading Down 0.3 %

Shares of TRP stock opened at $46.98 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. TC Energy Co. has a 1-year low of $31.83 and a 1-year high of $50.37. The stock has a market capitalization of $48.81 billion, a PE ratio of 13.01, a P/E/G ratio of 4.31 and a beta of 0.81. The business has a 50-day moving average of $46.85 and a 200 day moving average of $46.29.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings results on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.06. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. As a group, sell-side analysts anticipate that TC Energy Co. will post 2.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TRP. The Goldman Sachs Group upped their price objective on TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. BMO Capital Markets boosted their target price on shares of TC Energy from $66.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, November 20th. US Capital Advisors raised shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. Two investment 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 an average rating of “Hold” and an average 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.