CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Raises Stake in TC Energy Co. (NYSE:TRP)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 16.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,416,324 shares of the pipeline company's stock after purchasing an additional 202,059 shares during the period. TC Energy accounts for about 4.3% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 11th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.14% of TC Energy worth $65,902,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of TRP. Fortitude Family Office LLC purchased a new position in shares of TC Energy during the 3rd quarter valued at about $28,000. Blue Trust Inc. raised its position in TC Energy by 72.0% during 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 in the last quarter. Versant Capital Management Inc acquired a new position in TC Energy in the fourth quarter valued at approximately $33,000. Point72 DIFC Ltd purchased a new stake in TC Energy in the 3rd quarter worth approximately $39,000. Finally, UMB Bank n.a. acquired a new stake in shares of TC Energy during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 83.13% of the company's stock.

Analysts Set New Price Targets

TRP has been the subject of several analyst reports. Veritas upgraded shares of TC Energy to a "strong sell" rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. upgraded shares of TC Energy from a "neutral" rating to an "overweight" rating in a research report on Monday, October 14th. The Goldman Sachs Group increased their target price on shares of TC Energy from $38.00 to $42.00 and gave the stock a "sell" rating in a research note on Monday, October 21st. Morgan Stanley upgraded TC Energy from an "underweight" rating to an "overweight" rating in a research note on Friday, October 25th. Finally, BMO Capital Markets increased their price target on TC Energy from $66.00 to $70.00 and gave the stock a "market perform" rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $55.67.

TC Energy Price Performance

TRP stock traded up $0.47 during trading on Friday, hitting $47.57. The stock had a trading volume of 1,256,521 shares, compared to its average volume of 1,732,911. The company's 50-day moving average price is $47.44 and its two-hundred day moving average price is $45.89. TC Energy Co. has a twelve month low of $31.83 and a twelve month high of $50.37. The stock has a market capitalization of $49.43 billion, a P/E ratio of 13.18, a PEG ratio of 4.45 and a beta of 0.82. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.31 and a quick ratio of 1.23.

TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Thursday, November 7th. The pipeline company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. TC Energy had a return on equity of 12.92% and a net margin of 31.15%. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.83 billion. As a group, research analysts predict that TC Energy Co. will post 2.95 EPS for the current fiscal year.

TC Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.822 dividend. This is an increase from TC Energy's previous quarterly dividend of $0.70. This represents a $3.29 annualized dividend and a dividend yield of 6.91%. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy's dividend payout ratio (DPR) is currently 63.43%.

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.