HB Wealth Management LLC Buys New Position in TC Energy Co. (NYSE:TRP)

HB Wealth Management LLC bought a new stake in TC Energy Co. (NYSE:TRP) (TSE:TRP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,800 shares of the pipeline company’s stock, valued at approximately $270,000.

Other large investors have also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in TC Energy during the third quarter worth $28,000. Blue Trust Inc. increased its stake in TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company’s stock valued at $30,000 after buying an additional 267 shares during the last quarter. Versant Capital Management Inc bought a new stake in TC Energy during the 4th quarter worth about $33,000. Point72 DIFC Ltd bought a new position in shares of TC Energy in the 3rd quarter valued at about $39,000. Finally, Farther Finance Advisors LLC increased its position in shares of TC Energy by 215.7% in the third quarter. Farther Finance Advisors LLC now owns 1,209 shares of the pipeline company’s stock valued at $57,000 after acquiring an additional 826 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.

TC Energy Trading Up 1.0 %

TRP stock opened at $47.57 on Friday. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37. The stock has a market cap of $49.43 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 4.45 and a beta of 0.82. The company has a fifty day moving average price of $47.47 and a two-hundred day moving average price of $45.82. 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 (NYSE:TRP) (TSE:TRP) last announced 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 for the quarter, compared to analyst estimates of $2.83 billion. TC Energy had a net margin of 31.15% and a return on equity of 12.92%. Equities analysts anticipate that TC Energy Co. will post 2.95 EPS for the current year.

TC Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid 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 dividend yield of 6.91%. This is a positive change from TC Energy’s previous quarterly dividend of $0.70. TC Energy’s dividend payout ratio (DPR) is 63.43%.

Analyst Ratings Changes

Several research analysts recently commented on TRP shares. Veritas raised TC Energy to a “strong sell” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group raised their target price on shares of TC Energy from $38.00 to $42.00 and gave the company a “sell” rating in a research note on Monday, October 21st. TD Securities began coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. UBS Group upgraded shares of TC Energy from a “neutral” rating to a “buy” rating in a research note on Monday, September 30th. Finally, StockNews.com started coverage on shares of TC Energy in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, TC Energy 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.