Wealth Enhancement Advisory Services LLC Raises Stock Position in TC Energy Co. (NYSE:TRP)

Wealth Enhancement Advisory Services LLC raised its stake in shares of TC Energy Co. (NYSE:TRP) (TSE:TRP) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,264 shares of the pipeline company’s stock after purchasing an additional 1,231 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in TC Energy were worth $868,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Captrust Financial Advisors raised its position in shares of TC Energy by 1.3% during the 3rd quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company’s stock worth $871,000 after purchasing an additional 242 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in TC Energy during the 3rd quarter worth approximately $3,771,000. Harvest Portfolios Group Inc. raised its holdings in shares of TC Energy by 107.7% during the third quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company’s stock valued at $10,743,000 after acquiring an additional 117,176 shares during the last quarter. Barclays PLC lifted its position in shares of TC Energy by 19.9% in the third quarter. Barclays PLC now owns 528,528 shares of the pipeline company’s stock valued at $25,132,000 after acquiring an additional 87,885 shares in the last quarter. Finally, Partners Group Holding AG boosted its stake in shares of TC Energy by 25.8% in the third quarter. Partners Group Holding AG now owns 845,335 shares of the pipeline company’s stock worth $40,196,000 after acquiring an additional 173,250 shares during the last quarter. 83.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Morgan Stanley raised TC Energy from an “underweight” rating to an “overweight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. upgraded shares of TC Energy from a “neutral” rating to an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets raised their price target on shares of TC Energy from $66.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 20th. StockNews.com initiated coverage on shares of TC Energy in a research note on Wednesday, December 4th. They set a “hold” rating for the company. Finally, The Goldman Sachs Group increased their price objective on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $55.67.

TC Energy Stock Up 1.1 %

NYSE TRP opened at $46.87 on Thursday. The business’s fifty day simple moving average is $47.71 and its 200-day simple moving average is $45.48. 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 firm has a market cap of $48.69 billion, a PE ratio of 12.98, a P/E/G ratio of 3.88 and a beta of 0.82. TC Energy Co. has a 52 week low of $31.83 and a 52 week high of $50.37.

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

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.822 per share. This represents a $3.29 annualized dividend and a dividend yield of 7.02%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s payout ratio is presently 63.16%.

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.