Fortitude Family Office LLC Invests $28,000 in TC Energy Co. (NYSE:TRP)

Fortitude Family Office LLC acquired a new position in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 592 shares of the pipeline company’s stock, valued at approximately $28,000.

Other institutional investors also recently made changes to their positions in the company. Murchinson Ltd. bought a new stake in shares of TC Energy in the first quarter valued at approximately $506,485,000. Canada Pension Plan Investment Board boosted its stake in shares of TC Energy by 107.1% in the second quarter. Canada Pension Plan Investment Board now owns 19,462,155 shares of the pipeline company’s stock valued at $737,609,000 after buying an additional 10,065,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of TC Energy by 94.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,124,818 shares of the pipeline company’s stock valued at $688,534,000 after buying an additional 8,339,800 shares during the period. Merewether Investment Management LP bought a new stake in shares of TC Energy in the second quarter valued at approximately $112,618,000. Finally, M&G Plc bought a new stake in shares of TC Energy in the first quarter valued at approximately $111,587,000. Institutional investors own 83.13% of the company’s stock.

Analyst Ratings Changes

TRP has been the subject of several recent research reports. Morgan Stanley upgraded TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research note on Monday, October 14th. The Goldman Sachs Group upped their target price on TC Energy from $38.00 to $42.00 and gave the stock a “sell” rating in a research note on Monday, October 21st. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Finally, Barclays upgraded TC Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.50.

TC Energy Stock Up 0.4 %

Shares of NYSE:TRP opened at $46.47 on Thursday. The company has a fifty day moving average of $46.32 and a 200-day moving average of $41.73. The company has a market capitalization of $48.22 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 3.91 and a beta of 0.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.68 and a current ratio of 0.76. TC Energy Co. has a 52-week low of $31.04 and a 52-week high of $48.25.

TC Energy (NYSE:TRP) (TSE:TRP) last announced its quarterly earnings results on Thursday, August 1st. The pipeline company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.29. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.78 billion. TC Energy had a net margin of 21.31% and a return on equity of 16.97%. During the same period in the prior year, the business earned $0.71 earnings per share. On average, equities analysts predict that TC Energy Co. will post 3.02 EPS for the current fiscal year.

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.