Franklin Resources Inc. Raises Position in TC Energy Co. (NYSE:TRP)

Franklin Resources Inc. raised its holdings in shares of TC Energy Co. (NYSE:TRP - Free Report) TSE: TRP by 93.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,617,801 shares of the pipeline company's stock after buying an additional 781,090 shares during the period. Franklin Resources Inc. owned about 0.16% of TC Energy worth $75,295,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new position in TC Energy during the 4th quarter valued at $31,000. Versant Capital Management Inc bought a new stake in shares of TC Energy during the fourth quarter worth $33,000. Synergy Investment Management LLC purchased a new stake in shares of TC Energy during the fourth quarter valued at $36,000. Point72 DIFC Ltd bought a new position in shares of TC Energy in the third quarter worth about $39,000. Finally, Millstone Evans Group LLC purchased a new position in TC Energy in the 4th quarter worth about $41,000. Institutional investors own 83.13% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on TRP. US Capital Advisors upgraded shares of TC Energy from a "hold" rating to a "moderate buy" rating in a research note on Monday, February 3rd. Veritas raised TC Energy from a "strong sell" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. StockNews.com lowered TC Energy from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Royal Bank of Canada upped their target price on TC Energy from $71.00 to $74.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Finally, Citigroup initiated coverage on TC Energy in a research note on Friday. They set a "neutral" rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, TC Energy currently has an average rating of "Moderate Buy" and a consensus price target of $62.00.

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TC Energy Stock Up 0.0 %

Shares of NYSE TRP traded up $0.01 during mid-day trading on Tuesday, reaching $45.71. 806,087 shares of the company were exchanged, compared to its average volume of 2,285,508. TC Energy Co. has a 1 year low of $31.83 and a 1 year high of $50.37. The firm has a 50-day moving average of $46.57 and a 200 day moving average of $47.00. The stock has a market cap of $47.50 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 4.34 and a beta of 0.74. 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 (NYSE:TRP - Get Free Report) TSE: TRP last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.54. The company had revenue of $2.56 billion during the quarter, compared to analysts' expectations of $2.42 billion. TC Energy had a return on equity of 12.12% and a net margin of 29.40%. During the same period last year, the business posted $1.35 earnings per share. On average, research analysts expect that TC Energy Co. will post 2.63 earnings per share for the current year.

TC Energy Increases Dividend

The firm 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 dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 7.44%. 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 payout ratio 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.