Roxbury Financial LLC Makes New $280,000 Investment in TC Energy Co. (NYSE:TRP)

Roxbury Financial LLC purchased a new stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,721 shares of the pipeline company's stock, valued at approximately $280,000.

Several other institutional investors and hedge funds have also modified their holdings of TRP. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of TC Energy by 156.1% in the third 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 stake in TC Energy by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,712,660 shares of the pipeline company's stock worth $225,890,000 after buying an additional 360,548 shares in the last quarter. Merewether Investment Management LP increased its holdings in TC Energy by 37.9% in the 3rd quarter. Merewether Investment Management LP now owns 4,097,600 shares of the pipeline company's stock valued at $194,776,000 after buying an additional 1,127,000 shares during the period. Kayne Anderson Capital Advisors LP raised its position in shares of TC Energy by 29.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 3,198,140 shares of the pipeline company's stock valued at $152,072,000 after buying an additional 722,619 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of TC Energy by 0.8% during the 3rd quarter. Swiss National Bank now owns 3,137,901 shares of the pipeline company's stock worth $149,401,000 after acquiring an additional 24,800 shares during the period. 83.13% of the stock is currently owned by institutional investors and hedge funds.

TC Energy Trading Down 1.1 %

TRP traded down $0.49 during trading on Wednesday, reaching $45.89. 1,677,430 shares of the stock traded hands, compared to its average volume of 2,121,049. 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 moving average is $46.53 and its 200 day moving average is $46.62. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37. The stock has a market capitalization of $47.68 billion, a PE ratio of 14.16, a P/E/G ratio of 4.35 and a beta of 0.81.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.54. The firm had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.42 billion. TC Energy had a return on equity of 11.95% and a net margin of 29.40%. During the same period in the prior year, the business earned $1.35 EPS. Equities analysts anticipate that TC Energy Co. will post 2.64 earnings per share for the current year.

TC Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.85 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 7.41%. This is a positive change from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio is presently 70.68%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Morgan Stanley raised shares of TC Energy from an "underweight" rating to an "overweight" rating in a research note on Friday, October 25th. BMO Capital Markets lifted their target price on TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a research report on Wednesday, November 20th. US Capital Advisors raised shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. StockNews.com raised shares of TC Energy from a "hold" rating to a "buy" rating in a research note on Wednesday. Finally, Royal Bank of Canada increased their price target on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $62.00.

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.