CIBC Asset Management Inc Has $331.86 Million Holdings in TC Energy Co. (NYSE:TRP)

CIBC Asset Management Inc increased its position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,123,344 shares of the pipeline company's stock after acquiring an additional 551,980 shares during the quarter. TC Energy accounts for about 1.1% of CIBC Asset Management Inc's holdings, making the stock its 23rd largest position. CIBC Asset Management Inc owned approximately 0.69% of TC Energy worth $331,863,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Addenda Capital Inc. raised its stake in TC Energy by 4.4% during the 4th quarter. Addenda Capital Inc. now owns 1,034,497 shares of the pipeline company's stock valued at $48,135,000 after purchasing an additional 43,639 shares during the period. Captrust Financial Advisors raised its position in TC Energy by 1.3% during the third quarter. Captrust Financial Advisors now owns 18,316 shares of the pipeline company's stock valued at $871,000 after buying an additional 242 shares during the period. Ritholtz Wealth Management raised its position in TC Energy by 44.8% during the fourth quarter. Ritholtz Wealth Management now owns 23,957 shares of the pipeline company's stock valued at $1,115,000 after buying an additional 7,412 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in TC Energy in the 3rd quarter worth about $3,771,000. Finally, Harvest Portfolios Group Inc. boosted its position in TC Energy by 107.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 226,007 shares of the pipeline company's stock worth $10,743,000 after acquiring an additional 117,176 shares during the period. Hedge funds and other institutional investors own 83.13% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. BMO Capital Markets upped their target price on TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a report on Wednesday, November 20th. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. StockNews.com assumed coverage on shares of TC Energy in a report on Wednesday, December 4th. They set a "hold" rating on the stock. Morgan Stanley upgraded TC Energy from an "underweight" rating to an "overweight" rating in a report on Friday, October 25th. Finally, Royal Bank of Canada boosted their target price on TC Energy from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $62.00.

TC Energy Stock Down 0.9 %

NYSE:TRP traded down $0.42 during trading hours on Wednesday, reaching $45.96. The company's stock had a trading volume of 786,047 shares, compared to its average volume of 2,092,421. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23. The company has a market cap of $47.76 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 4.35 and a beta of 0.81. TC Energy Co. has a one year low of $31.83 and a one year high of $50.37. The business's 50-day moving average is $46.56 and its 200-day moving average is $46.63.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last released 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 11.95% and a net margin of 29.40%. The company 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 EPS. Equities research analysts predict that TC Energy Co. will post 2.64 EPS for the current year.

TC Energy Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 7.40%. This is a positive change from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio (DPR) is 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.