Captrust Financial Advisors Purchases 242 Shares of TC Energy Co. (NYSE:TRP)

Captrust Financial Advisors grew its position in TC Energy Co. (NYSE:TRP) (TSE:TRP) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,316 shares of the pipeline company’s stock after purchasing an additional 242 shares during the quarter. Captrust Financial Advisors’ holdings in TC Energy were worth $871,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board grew its holdings in TC Energy by 107.1% in the 2nd 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 in the last quarter. Legal & General Group Plc boosted its position in shares of TC Energy by 4.1% in the second quarter. Legal & General Group Plc now owns 11,892,999 shares of the pipeline company’s stock valued at $450,749,000 after acquiring an additional 467,497 shares during the period. CIBC Asset Management Inc boosted its position in shares of TC Energy by 2.6% in the second quarter. CIBC Asset Management Inc now owns 8,515,086 shares of the pipeline company’s stock valued at $322,584,000 after acquiring an additional 214,689 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in TC Energy by 156.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock worth $321,778,000 after acquiring an additional 4,126,801 shares during the period. Finally, Thornburg Investment Management Inc. raised its stake in TC Energy by 42.0% in the 2nd quarter. Thornburg Investment Management Inc. now owns 3,590,617 shares of the pipeline company’s stock worth $136,148,000 after purchasing an additional 1,062,805 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

TC Energy Stock Performance

NYSE:TRP opened at $47.37 on Tuesday. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37. 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 stock’s 50-day simple moving average is $47.62 and its 200 day simple moving average is $44.02. The firm has a market capitalization of $49.17 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 4.03 and a beta of 0.82.

TC Energy (NYSE:TRP) (TSE:TRP) last released its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. The business had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.83 billion. On average, analysts anticipate that TC Energy Co. will post 3 EPS for the current fiscal year.

TC Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.822 per share. The ex-dividend date is Tuesday, December 31st. This represents a $3.29 dividend on an annualized basis and a yield of 6.94%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is currently 67.31%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TRP shares. Veritas upgraded shares of TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. UBS Group upgraded TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. upgraded TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. StockNews.com began coverage on TC Energy in a research report on Wednesday, December 4th. They issued a “hold” rating on the stock. Finally, BMO Capital Markets upped their price objective on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $55.67.

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.