Allspring Global Investments Holdings LLC Purchases 76,827 Shares of TC Energy Co. (NYSE:TRP)

Allspring Global Investments Holdings LLC grew its stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 53.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 219,975 shares of the pipeline company's stock after purchasing an additional 76,827 shares during the period. Allspring Global Investments Holdings LLC's holdings in TC Energy were worth $10,420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Creative Planning increased its position in shares of TC Energy by 4.1% during the third quarter. Creative Planning now owns 46,779 shares of the pipeline company's stock worth $2,224,000 after acquiring an additional 1,829 shares in the last quarter. Blue Trust Inc. boosted its stake in TC Energy by 72.0% in the third quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock valued at $30,000 after acquiring an additional 267 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in TC Energy by 26.0% in the third quarter. Sequoia Financial Advisors LLC now owns 9,651 shares of the pipeline company's stock valued at $459,000 after acquiring an additional 1,993 shares during the last quarter. Signaturefd LLC boosted its stake in TC Energy by 15.6% in the third quarter. Signaturefd LLC now owns 18,929 shares of the pipeline company's stock valued at $900,000 after acquiring an additional 2,556 shares during the last quarter. Finally, Eastern Bank purchased a new position in TC Energy in the third quarter valued at about $166,000. Institutional investors and hedge funds own 83.13% of the company's stock.

TC Energy Price Performance

Shares of NYSE:TRP traded down $0.60 during trading on Friday, reaching $44.94. The company had a trading volume of 2,068,058 shares, compared to its average volume of 2,094,274. The company has a fifty day moving average of $46.51 and a two-hundred day moving average of $46.61. The stock has a market capitalization of $46.70 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 4.37 and a beta of 0.81. TC Energy Co. has a 12 month low of $31.83 and a 12 month high of $50.37. The company has a current ratio of 0.55, a quick ratio of 1.23 and a debt-to-equity ratio of 1.56.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 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 analyst estimates of $2.42 billion. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. During the same quarter in the prior year, the firm earned $1.35 EPS. Equities research analysts forecast 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. Investors of record on Monday, March 31st will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.40 annualized dividend and a dividend yield of 7.57%. This is a positive change from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio (DPR) is currently 71.91%.

Analysts Set New Price Targets

TRP has been the topic of a number of recent research reports. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. StockNews.com upgraded shares of TC Energy from a "hold" rating to a "buy" rating in a research note on Wednesday. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday. BMO Capital Markets increased their target price 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. Finally, Royal Bank of Canada increased their target price on shares of TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.