Americana Partners LLC Acquires Shares of 76,850 TC Energy Co. (NYSE:TRP)

Americana Partners LLC acquired a new position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 76,850 shares of the pipeline company's stock, valued at approximately $3,576,000.

A number of other hedge funds also recently made changes to their positions in TRP. Connor Clark & Lunn Investment Management Ltd. increased its holdings in 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 worth $321,778,000 after purchasing an additional 4,126,801 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in TC Energy in the third quarter worth approximately $73,162,000. Merewether Investment Management LP increased its holdings in 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 worth $194,776,000 after purchasing an additional 1,127,000 shares in the last quarter. Duff & Phelps Investment Management Co. increased its holdings in TC Energy by 70.7% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,763,915 shares of the pipeline company's stock worth $83,874,000 after purchasing an additional 730,415 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP increased its holdings in 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 worth $152,072,000 after purchasing an additional 722,619 shares in the last quarter. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TRP has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their target price on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a report on Tuesday. Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday. US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Morgan Stanley upgraded TC Energy from an "underweight" rating to an "overweight" rating in a report on Friday, October 25th. Finally, StockNews.com raised TC Energy from a "hold" rating to a "buy" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, TC Energy presently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

TC Energy Stock Down 1.3 %

TC Energy stock traded down $0.60 during mid-day trading on Friday, reaching $44.94. The stock had a trading volume of 2,068,058 shares, compared to its average volume of 2,106,917. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The stock's 50-day simple moving average is $46.48 and its 200-day simple moving average is $46.63. The firm has a market capitalization of $46.70 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 4.37 and a beta of 0.81.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.54. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the company posted $1.35 earnings per share. On average, sell-side analysts forecast that TC Energy Co. will post 2.63 EPS for the current fiscal year.

TC Energy Increases Dividend

The business also recently declared 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 yield of 7.57%. This is an increase from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio is 71.91%.

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.