First Trust Advisors LP Raises Stake in TC Energy Co. (NYSE:TRP)

First Trust Advisors LP lifted its position in TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 685.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,061,697 shares of the pipeline company's stock after purchasing an additional 926,497 shares during the period. First Trust Advisors LP owned about 0.10% of TC Energy worth $49,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of TC Energy in the fourth quarter valued at about $31,000. Versant Capital Management Inc bought a new position in TC Energy in the 4th quarter worth approximately $33,000. Synergy Investment Management LLC purchased a new stake in TC Energy during the 4th quarter valued at approximately $36,000. Millstone Evans Group LLC bought a new stake in shares of TC Energy during the fourth quarter valued at approximately $41,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of TC Energy in the fourth quarter worth $46,000. 83.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TRP shares. Veritas upgraded shares of TC Energy from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, February 18th. US Capital Advisors upgraded TC Energy from a "hold" rating to a "moderate buy" rating in a research report on Monday, February 3rd. Citigroup initiated coverage on TC Energy in a research note on Friday, April 4th. They set a "neutral" rating for the company. StockNews.com downgraded TC Energy from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, TD Securities assumed coverage on shares of TC Energy in a report on Wednesday, January 15th. They issued a "buy" rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $62.00.

TC Energy Stock Performance

NYSE TRP opened at $48.92 on Thursday. The business's 50 day moving average price is $46.90 and its 200-day moving average price is $47.08. TC Energy Co. has a fifty-two week low of $35.38 and a fifty-two week high of $50.37. The company has a market cap of $50.84 billion, a P/E ratio of 15.10, a P/E/G ratio of 4.34 and a beta of 0.74. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.23 and a current ratio of 0.55.

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 analysts' consensus estimates of $0.51 by $0.54. The business had revenue of $2.56 billion for the quarter, compared to analysts' expectations 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 business posted $1.35 earnings per share. Sell-side 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 paid a $0.85 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.40 annualized dividend and a yield of 6.95%. This is an increase from TC Energy's previous quarterly dividend of $0.82. TC Energy's dividend payout ratio (DPR) is presently 72.84%.

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.

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