TC Energy Co. (NYSE:TRP) Shares Bought by CIBC Private Wealth Group LLC

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

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of TC Energy by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 43,687,141 shares of the pipeline company's stock worth $2,035,952,000 after acquiring an additional 734,678 shares in the last quarter. TD Asset Management Inc. grew its holdings in TC Energy by 2.1% in the fourth quarter. TD Asset Management Inc. now owns 16,437,150 shares of the pipeline company's stock worth $765,627,000 after purchasing an additional 344,485 shares during the last quarter. Norges Bank acquired a new position in shares of TC Energy during the fourth quarter worth $428,759,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of TC Energy by 6.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,175,940 shares of the pipeline company's stock valued at $333,993,000 after purchasing an additional 405,965 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of TC Energy by 8.4% in the 4th quarter. CIBC Asset Management Inc now owns 7,123,344 shares of the pipeline company's stock worth $331,863,000 after purchasing an additional 551,980 shares in the last quarter. Institutional investors own 83.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TRP shares. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Royal Bank of Canada raised their price target 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. StockNews.com lowered shares of TC Energy from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. TD Securities began coverage on TC Energy in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. Finally, Citigroup initiated coverage on TC Energy in a report on Friday. They issued a "neutral" rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Price Performance

Shares of NYSE:TRP traded down $2.65 during trading on Friday, reaching $46.07. 6,088,531 shares of the company's stock traded hands, compared to its average volume of 2,645,363. The firm has a market cap of $47.88 billion, a PE ratio of 14.22, a P/E/G ratio of 4.34 and a beta of 0.74. The company has a 50-day simple moving average of $46.57 and a 200-day simple moving average of $46.99. The company has a quick ratio of 1.23, a current ratio of 0.55 and a debt-to-equity ratio of 1.56. TC Energy Co. has a fifty-two week low of $34.95 and a fifty-two week high of $50.37.

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 the consensus estimate of $0.51 by $0.54. The company had revenue of $2.56 billion during 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 previous year, the firm earned $1.35 EPS. 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 company also recently disclosed 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 7.38%. This is a positive change from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio (DPR) is presently 72.53%.

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.