Arcadia Investment Management Corp MI bought a new position in shares of TC Energy Co. (NYSE:TRP – Free Report) (TSE:TRP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,000 shares of the pipeline company’s stock, valued at approximately $93,000.
Other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc grew its position in shares of TC Energy by 8.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company’s stock valued at $331,863,000 after purchasing an additional 551,980 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in TC Energy by 156.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,769,975 shares of the pipeline company’s stock valued at $321,778,000 after buying an additional 4,126,801 shares in the last quarter. Geode Capital Management LLC grew its holdings in TC Energy by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company’s stock valued at $225,890,000 after buying an additional 360,548 shares during the last quarter. Merewether Investment Management LP lifted its position in shares of TC Energy by 37.9% in the third quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company’s stock valued at $194,776,000 after acquiring an additional 1,127,000 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its position in shares of TC Energy by 29.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company’s stock valued at $152,072,000 after acquiring an additional 722,619 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts recently weighed in on TRP shares. StockNews.com raised shares of TC Energy from a “hold” rating to a “buy” rating in a research note on Wednesday. Veritas raised shares of TC Energy from a “strong sell” rating to a “strong-buy” rating in a research report on Tuesday. TD Securities initiated coverage on shares of TC Energy in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. US Capital Advisors upgraded TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada raised their price objective on TC Energy from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $62.00.
TC Energy Stock Down 1.3 %
Shares of TRP opened at $44.94 on Friday. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The company’s fifty day moving average is $46.48 and its two-hundred day moving average is $46.63. The firm has a market cap of $46.70 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 4.34 and a beta of 0.81. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56.
TC Energy (NYSE:TRP – Get Free Report) (TSE:TRP) last issued its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter last year, the firm earned $1.35 earnings per share. Analysts forecast that TC Energy Co. will post 2.63 earnings per share for the current year.
TC Energy Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a $0.85 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.57%. This is an increase from TC Energy’s previous quarterly dividend of $0.82. TC Energy’s payout ratio is presently 70.68%.
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.
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