D.A. Davidson & CO. bought a new position in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,379 shares of the pipeline company's stock, valued at approximately $297,000.
Other large investors also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in TC Energy in the third quarter worth $28,000. Blue Trust Inc. increased its holdings in shares of TC Energy by 72.0% in the 3rd quarter. Blue Trust Inc. now owns 638 shares of the pipeline company's stock worth $30,000 after acquiring an additional 267 shares during the period. Versant Capital Management Inc bought a new stake in TC Energy in the 4th quarter valued at about $33,000. Point72 DIFC Ltd bought a new stake in TC Energy in the 3rd quarter valued at about $39,000. Finally, Rogco LP boosted its stake in TC Energy by 100.0% during the 4th quarter. Rogco LP now owns 1,000 shares of the pipeline company's stock valued at $47,000 after purchasing an additional 500 shares during the period. 83.13% of the stock is currently owned by institutional investors.
TC Energy Price Performance
Shares of TC Energy stock traded up $0.35 during trading on Friday, hitting $44.69. The stock had a trading volume of 2,216,768 shares, compared to its average volume of 2,070,348. The business has a fifty day moving average of $46.35 and a two-hundred day moving average of $46.69. The firm has a market cap of $46.44 billion, a P/E ratio of 13.79, a PEG ratio of 4.34 and a beta of 0.81. TC Energy Co. has a fifty-two week low of $31.83 and a fifty-two week high of $50.37. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.55 and a quick ratio of 1.23.
TC Energy (NYSE:TRP - Get Free Report) TSE: TRP last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.54. TC Energy had a net margin of 29.40% and a return on equity of 12.12%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the firm posted $1.35 EPS. On average, sell-side analysts expect that TC Energy Co. will post 2.63 earnings per share for the current fiscal year.
TC Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.61%. The ex-dividend date is Monday, March 31st. This is an increase from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio is 71.91%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on TRP shares. BMO Capital Markets lifted their price target on TC Energy from $66.00 to $70.00 and gave the company a "market perform" rating in a report on Wednesday, November 20th. TD Securities began coverage on TC Energy in a research report on Wednesday, January 15th. They issued a "buy" rating on the stock. Veritas upgraded TC Energy from a "strong sell" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. US Capital Advisors raised TC Energy from a "hold" rating to a "moderate buy" rating in a report on Monday, February 3rd. Finally, StockNews.com raised shares of TC Energy from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.
Read Our Latest Stock Report on TRP
TC Energy Company Profile
(
Free Report)
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.
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