Covalis Capital LLP Buys Shares of 82,729 TC Energy Co. (NYSE:TRP)

Covalis Capital LLP acquired a new position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 82,729 shares of the pipeline company's stock, valued at approximately $3,849,000.

Several other institutional investors also recently modified their holdings of TRP. SBI Securities Co. Ltd. acquired a new stake in TC Energy during the fourth quarter worth $31,000. Versant Capital Management Inc acquired a new stake in shares of TC Energy during the 4th quarter valued at about $33,000. Synergy Investment Management LLC bought a new stake in TC Energy in the fourth quarter valued at about $36,000. Millstone Evans Group LLC bought a new position in TC Energy during the fourth quarter worth about $41,000. Finally, First Command Advisory Services Inc. acquired a new stake in TC Energy during the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 83.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TRP shares. Royal Bank of Canada raised their target price on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Citigroup started coverage on shares of TC Energy in a report on Friday, April 4th. They set a "neutral" rating for the company. StockNews.com lowered shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. TD Securities started coverage on TC Energy in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. Finally, US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TC Energy presently has an average rating of "Moderate Buy" and a consensus target price of $62.00.

TC Energy Trading Down 0.2 %

TRP stock traded down $0.09 during trading on Wednesday, hitting $48.92. The company had a trading volume of 1,669,824 shares, compared to its average volume of 2,583,109. The firm has a 50-day moving average price of $46.84 and a 200-day moving average price of $47.07. TC Energy Co. has a 12 month low of $35.38 and a 12 month high of $50.37. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. The stock has a market cap of $50.84 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 4.34 and a beta of 0.74.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same quarter in the previous year, the company posted $1.35 earnings per share. As a group, analysts predict that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 6.95%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio (DPR) is 72.84%.

TC Energy 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.