TC Energy Co. (NYSE:TRP) Stake Increased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lifted its stake in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 11.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 352,111 shares of the pipeline company's stock after buying an additional 36,547 shares during the quarter. CIBC Private Wealth Group LLC's holdings in TC Energy were worth $16,827,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in TC Energy during the 4th quarter worth $428,759,000. Mufg Securities Canada LTD. boosted its holdings in TC Energy by 571.7% in the fourth quarter. Mufg Securities Canada LTD. now owns 6,184,832 shares of the pipeline company's stock valued at $288,043,000 after purchasing an additional 5,264,079 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in TC Energy during the 4th quarter valued at approximately $102,405,000. Kayne Anderson Capital Advisors LP increased its holdings in TC Energy by 51.4% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 4,842,255 shares of the pipeline company's stock worth $225,310,000 after purchasing an additional 1,644,115 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of TC Energy during the 4th quarter valued at approximately $75,464,000. 83.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. StockNews.com downgraded TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. TD Securities assumed coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a "buy" rating for the company. 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 report on Tuesday, February 18th. Finally, Veritas raised shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, TC Energy has an average rating of "Moderate Buy" and an average target price of $62.00.

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TC Energy Stock Performance

TC Energy stock traded up $0.03 during midday trading on Thursday, reaching $48.75. 4,826,194 shares of the stock traded hands, compared to its average volume of 2,635,808. TC Energy Co. has a fifty-two week low of $34.95 and a fifty-two week high of $50.37. The firm has a market cap of $50.66 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 4.34 and a beta of 0.83. The firm has a fifty day moving average price of $46.57 and a two-hundred day moving average price of $46.98. 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 announced its earnings results on Friday, February 14th. The pipeline company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the prior year, the firm posted $1.35 EPS. On average, 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. This represents a $3.40 dividend on an annualized basis and a yield of 6.97%. This is a boost from TC Energy's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 31st. TC Energy's dividend payout ratio (DPR) is presently 72.53%.

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.